Best Gold Stocks to Buy Now: AABB, GOLD, GDX 
The U.S. consensus Bureau would soon be publishing the much-awaited non-farm payroll (NFP) report, a key U.S. Labour market statistics, which would be a vital piece of the docket in understanding the underlying strength of the U.S. economy, and also to assess whether the Federal Reserve would reduce rates as early as July.
The report would be released at 12:30 GMT and the median expectation suggests that the U.S. economy is expected to create 160,000 new jobs. ADP employment report earlier this week 102,000 for June, a much weaker number compared to last year, but much better than 27,000 in May.
Despite weakness in the U.S. economy, the bias for the USD remains to the upside, and GBP/USD to the downside, heading to NFP report.
The retail sentiment points to further downside in GBP/USD,
- The sentiment reports from IG Markets, which is a UK-based company providing trading in financial derivatives such as contracts for difference and financial spread betting, points to bearish bias in the GBP/USD.
- IG markets’ retail positions data provide a glimpse to retail traders’ positions, which are largely used as a contrarian indicator since retail positioning moves in the opposite direction to market movements.
- As of today, according to data from IG markets, 79 percent of the retail positions are on the buy side in GBP/USD, while 21 percent are bearish. That gives the pair a bearish bias.
