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UNLOCK OFFERUS jobless claims have come out at 222K, a bit above 220K expected but below last week's 232K (which was 231K in the original print). That means the labor market is cooling, but at a moderate pace. For stocks, this is good news, as companies will find it easier to hire people but demand will likely remain upbeat.
The data is upbeat for Gold and downbeat for the US Dollar, but only slightly. After yesterday's Gold rally and USD downfall, there is a small correction today.
The economic calendar shows that other data has come out mostly below expectations. That is in line with a gradually softening economy.
Live coverage of US Jobless Claims.
Why US Unemployment Claims matter for markets
The weekly release of US Unemployment Claims (also called initial jobless claims or jobless claims) provides an early indication of changes in labor market conditions. The Fed aims for price stability and full employment, and is attentive to any developments, making the publication significant for markets. A larger-than-expected number indicates weakness in the US labor market, and is generally negative for the US Dollar. On the contrary, a decreasing number should be taken as bullish for the USD.
Update 12:03 GMT: The US Dollar has been gaining some ground ahead of the release. It is still far below levels seen before the publication of the Consumer Price Index (CPI) report on Wednesday, which showed inflation is falling.
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FXStreet covers major economic releases in a live blog format, to provide readers an instant verdict of the data, rapid analysis of key assets, and for Premium members, the abilty to ask our experts questions in real time.
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FXStreet Premium provides subscribers access to analysts, exclusive actionable analysis, signals, Ed Ponsi's webinars, trade plans and a bullish/bearish indicator for Gold on critical events. Join FXStreet Premium here.
US jobless claims have come out at 222K, a bit above 220K expected but below last week's 232K (which was 231K in the original print). That means the labor market is cooling, but at a moderate pace. For stocks, this is good news, as companies will find it easier to hire people but demand will likely remain upbeat.
The data is upbeat for Gold and downbeat for the US Dollar, but only slightly. After yesterday's Gold rally and USD downfall, there is a small correction today.
The economic calendar shows that other data has come out mostly below expectations. That is in line with a gradually softening economy.
Live coverage of US Jobless Claims.
Why US Unemployment Claims matter for markets
The weekly release of US Unemployment Claims (also called initial jobless claims or jobless claims) provides an early indication of changes in labor market conditions. The Fed aims for price stability and full employment, and is attentive to any developments, making the publication significant for markets. A larger-than-expected number indicates weakness in the US labor market, and is generally negative for the US Dollar. On the contrary, a decreasing number should be taken as bullish for the USD.
Update 12:03 GMT: The US Dollar has been gaining some ground ahead of the release. It is still far below levels seen before the publication of the Consumer Price Index (CPI) report on Wednesday, which showed inflation is falling.
Live financial market coverage
FXStreet covers major economic releases in a live blog format, to provide readers an instant verdict of the data, rapid analysis of key assets, and for Premium members, the abilty to ask our experts questions in real time.
FXStreet Premium
FXStreet Premium provides subscribers access to analysts, exclusive actionable analysis, signals, Ed Ponsi's webinars, trade plans and a bullish/bearish indicator for Gold on critical events. Join FXStreet Premium here.
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