US Retail Sales and Unemployment Claims Data Defeats Expectations By

2023-12-14 13:33:00

© – US Unemployment Claims and Retail Sales data are now out today, missing expectations, as these indicators should provide more clarity on the Fed’s next steps on monetary policy.

The just-released data supports the Federal Reserve’s continuation of its tight monetary policy, meaning it is in favor of stocks. This is after an increase in retail sales and a decrease in unemployment benefits.

Immediately after the data was released, the dollar reduced some of its losses, while gold lost a small portion of its gains so far.

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Data just released

It recorded 202,000 orders, higher than experts’ expectations of 220,000. Especially since it recorded 221 thousand the week before last after adjusting the reading.

Thus, it rose in 4 weeks to 213.25 thousand, after the week before last recorded 221 thousand after adjusting the reading.

On the other hand, it rose by 0.2%, and expectations were at -0.1%, while the previous reading recorded 0.1%.

At the same time, it recorded 0.3%, and experts’ expectations were at -0.1%, while the previous reading was revised to record -0.2%.

On an annual basis, it recorded an increase of 4.09%, compared to the previous reading, which recorded 2.24% after adjustment.

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Gold and dollar now

It is now rising 2.4% to $2,045 an ounce.

Meanwhile, spot gold contracts rose by 0.15% to $2,030 per ounce.

On the other hand, the dollar index fell by 0.35% to 102,130 points.

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