XAUUSD: Holding on to higher ground!

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Market conditions are thin amid the Easter holiday, with multiple markets closed on Good Friday. The United States, however, will release the March Nonfarm Payrolls report. According to market consensus, the US is expected to have gained 240,000 job positions in March, while the Unemployment Rate is foreseen steady at 3.6%.

Employment-related figures released ahead of the big number were quite disappointing. JOLT Job Openings published earlier in the week showed they fell below the 10 million mark for the first time in two years, hinting at a loosening labor market. On Thursday, the Challenger Job Cuts report showed that US-based employers announced 89,703 job cuts in March, down 15% from February. Finally, Initial Jobless Claims have held above 200K on a weekly basis since early March.

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