Educational analysis only - not financial advice. Trading CFDs involves a high risk of loss. Market data as of 3 August 2026, 01:00 UTC.
Weekly Market Overview
This week is all about jobs data: Friday's US Nonfarm Payrolls lands together with Canada's employment report, and New Zealand's quarterly jobs data hits midweek. Our pair focus: gold (XAU/USD), USD/CAD, NZD/USD, and USD/JPY. Beginner tip: jobs releases move fast, so check each time below before trading.
Wednesday, Aug 5 - NZD/USD: New Zealand Quarterly Jobs Report
The kiwi's key event comes early: Wednesday, August 5 at 6:45am GMT+8, New Zealand releases its quarterly jobs report covering employment change, unemployment, and wage growth together. Because this data only comes out four times a year, NZD can move sharply on a surprise - and it arrives with the pair already in a strong rally.
• Trend: bullish; trading near 0.5881 after breaking above its former ceiling around 0.5860-0.5870
• Resistance: 0.5935, then the 0.6000 psychological level
• Support: 0.5860-0.5870 breakout zone, then 0.5820-0.5840
• Momentum: buyers in control while price holds above the breakout zone; a slip back below 0.5860 would warn the rally is stalling
Beginner tip: quarterly releases carry more weight than monthly ones - a strong jobs surprise could extend this rally toward 0.6000, while a weak one may trigger sharp profit-taking after the recent run.
Wednesday & Friday - USD/JPY: Japan Wage Data & NFP Week
USD/JPY enters the week under heavy pressure: after the July 30 suspected-intervention plunge from around 164, selling has continued and the pair opened this week near 156.52. Japan's wage data on Wednesday, August 5 at 7:30am GMT+8 and Friday's US Nonfarm Payrolls at 8:30pm GMT+8 are this week's key tests.
• Trend: sharp reversal of the long uptrend; the pair has fallen roughly eight yen from its highs in three sessions
• Resistance: 158.50, then the 159.30-160.20 recovery zone
• Support: 156.00, then 155.00; a break below opens deeper losses
• Watch: the US-Japan rate gap still favors the dollar longer term, but intervention fear and momentum currently rule this chart
Beginner tip: after an intervention shock, volatility stays elevated for days - spreads widen and price can gap, so smaller position sizes are essential this week.
Friday, Aug 7 - Gold (XAU/USD): US Nonfarm Payrolls
Gold's big test comes Friday, August 7 at 8:30pm GMT+8 with US Nonfarm Payrolls, the month's most watched jobs report. Markets expect around 85,000 new jobs with unemployment near 4.3%. A weaker report could strengthen Fed rate-cut expectations and lift gold, while a strong one may keep yields high and cap recovery.
• Trend: bearish overall, but price has climbed to 4,071 and is testing the base of the key resistance zone
• Resistance: 4,074-4,112 - price is knocking on it now; above that, 4,240
• Support: 4,000 psychological floor, then 3,940
• Momentum: repeated defense of the lows and this push into resistance suggest sellers are losing steam
Beginner tip: watch the actual-versus-forecast gap on NFP; the surprise, not the number itself, is what usually moves gold most.
Friday, Aug 7 - USD/CAD: US & Canada Jobs Double Release
USD/CAD faces a rare double event on Friday, August 7 at 8:30pm GMT+8, when US Nonfarm Payrolls and Canada's employment change and unemployment rate land at the same time. With both sides of the pair reporting at once, moves can be sharp and two-sided.
• Trend: range-bound; trading near 1.4033, just above the key floor
• Resistance: 1.4125-1.4150, then 1.4250
• Support: 1.4000, defended by buyers several times; below that, 1.3950
• Driver: the US-Canada rate gap still favors the dollar, while firm oil prices offer the loonie some support
Beginner tip: when both countries report jobs at the same hour, the first price spike often reverses - waiting for the market to settle can offer a clearer picture.
Other Data to Note
Beyond the four pairs above, Monday opens with Swiss CPI at 2:30pm GMT+8, a key release for USD/CHF, followed by the US ISM Manufacturing PMI at 10:00pm GMT+8. US JOLTS Job Openings land Tuesday at 10:00pm GMT+8 as an early read on labor demand, and the ISM Services PMI follows Wednesday at 10:00pm GMT+8. Switzerland's unemployment rate and Eurozone retail sales arrive Thursday at 3:00pm and 5:00pm GMT+8, with US weekly jobless claims at 8:30pm GMT+8. These releases can move broader dollar sentiment around the bigger jobs events above.
Key Takeaway
This week is all about labor markets, with New Zealand's quarterly jobs report, US ADP data, and the US and Canada jobs reports all landing within a few days of each other. Beginner traders should watch the actual-versus-forecast gap on Friday's Nonfarm Payrolls especially, since surprises there tend to move gold, indices, and major USD pairs the most. A good habit this week is to avoid opening new trades in the minutes around each jobs release, when spreads often widen. Sub-IBs and partners are welcome to share this weekly outlook with their own clients as educational market content. Follow Lirunex for more weekly market updates and educational insights.
Risk Warning and Disclosure
This content is for educational purposes only and is not financial advice or a recommendation to trade. Market data comes from third-party sources believed reliable but is not guaranteed and may change without notice. Trading forex, gold, and CFDs carries a high level of risk; you could lose some or all of your capital, and past performance is not a reliable indicator of future results. Lirunex Limited accepts no liability for losses arising from reliance on this material, is regulated by the Labuan FSA (MB/20/0050) and the FSC Mauritius (GB24203882), and does not direct this material at any jurisdiction where its distribution would be unlawful.
