Private payrolls firm ADP released the monthly payroll figures. According to the data, private-sector hiring surged strongly in January to 291k during the month. This was well above the estimates of 157k.
The data for December was revised down to 199k, with the surge coming on the back of a rebound in the manufacturing sector.
XAU/USD Rebounds, But Will It Hold?
The precious metal stalled in its declines from earlier this week amid a rebound. But the question remains if this corrective move can hold. Currently, the nearest resistance level is around the 1568 – 1572 region.
A test of resistance here could see prices moving lower once again. To the downside, a decline below the current pivot lows of 1548 could signal a move to the 1534 support.
