Gold price has galloped to near $1,960.00 as US weekly jobless claims hit a 19-month high.
The market mood could turn cheerful as higher jobless claims would trim hawkish Fed bets.
Gold price has managed to defend a breakdown of the Ascending Triangle chart pattern.
Gold price (XAU/USD) has shown a sharp run after the release of higher-than-expected United States weekly jobless claims data. The precious metal has jumped to near $1,960.00 as the US Department of Labor reported a significant jump in the initial claims by 28K to 261K for the week ending June 02 while the street was anticipating a figure of 235K.
S&P500 futures are likely to open on a cautious note, however, the market mood could turn cheerful as higher jobless claims would trim hawkish Federal Reserve (Fed) bets. The US Dollar Index (DXY) has printed a fresh four-day low at 103.60 higher unemployment claims would ease out severe heat in the United States labor market.
19-month high US jobless claims are expected to fetch dovish commentaries from investment banking firms and Fed policymakers. Upbeat labor market conditions were the major catalyst, which was forcing Fed policymakers for supporting more interest rate hikes. The impact of higher jobless claims can also be seen in the US Treasury yields. The yields offered on 10-year US government bonds have sharply dropped below 3.78%.
In the longer-term, easing labor market conditions would also slim resilience in consumer spending and would further ease inflationary pressures.
면책 조항: 본 게시글에 표현된 견해는 전적으로 작성자의 견해이며 Followme의 공식 입장을 대변하지 않습니다. Followme는 제공된 정보의 정확성, 완전성 또는 신뢰성에 대해 책임을 지지 않으며, 서면으로 명시적으로 언급되지 않는 한 해당 내용을 기반으로 취해진 어떠한 조치에 대해서도 책임을 지지 않습니다.
더 오래된 의견은 없습니다. 소파를 가장 먼저 잡으십시오.