Investing.com – Some important data that should give an overview of the weekly unemployment data has now been released.
The Fed’s vision was strengthened today after the issuance of these data, confirming Powell’s statements that the time has come to reduce the rate of hike in the coming period, especially after the rise in unemployment benefits, which means that the country is heading towards recession.
The markets interacted with the unemployment data, as it rose now after falling in morning trading, while it fell after the data was released after it was high.
And it recorded a rise to 230,000 applications, which means that it came in accordance with the expectations of experts. Especially since it had recorded 226 thousand last week.
Thus, in 4 weeks it rose to 230 thousand.
This weekly indicator provides very timely data, identifies the amount of individuals who claimed unemployment insurance for the first time during the past week and traders view the unemployment rate as an indicator that gives a simple indication of the future performance of the economy. The two downtrends have a positive effect on the country’s currency, as working people tend to spend more money.
The US dollar rose during the current moments, at levels near $ 1791 an ounce, up by 0.3%.
On the other hand, futures contracts for the yellow metal jumped strongly during these moments of today’s trading, equivalent to 0.3%, rising to levels near $ 1804 an ounce.
The dollar now interacted with the unemployment data just released, and now recorded levels of 104.9, declining by about 0.15%.
While the return for 10 years increased by about 1.21%, to record 3.449%.
American Nymex Light crude rose strongly during these moments, to levels of $75.2 per barrel, by 4.6%.
On the other hand, it rose to levels of $79, by 2.4%, during these moments of today’s trading.
The dollar and gold ahead of the data
The dollar index, which tracks the greenback against a basket of six other currencies, rose 0.25% to 105.300.
While the spot fell by 0.2% to $1783.11 an ounce, it fell by 0.2% to $1795.15 an ounce.