© Reuters
Investing.com – My favorite indicator of inflation is now out, along with US unemployment claims data, which should provide further signals about the Fed’s next steps on monetary policy.
Inflation data indicate that prices are slowing compared to previous readings, but the indicator is still far from the Federal Reserve’s target of 2%, but the dollar and the dollar have maintained their trend so far due to the release of data in line with expectations.
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Meanwhile, unemployment claims have been relatively stable at 220,000 in 4 weeks, which is the most accurate measure of US unemployment benefits, which also explains the lack of noticeable shifts in the markets so far.
At these moments in today’s trading, it maintained its gains, coinciding with gold remaining on the downward path.
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Inflation data
The annual index recorded 3.5%, which is what experts expected, while it recorded 3.7% in the previous reading.
The monthly index recorded 0.2%, which is what experts expected, and the previous reading was 0.3%.
As for the main index on an annual basis, it recorded 3%, which is what experts expected, and it had recorded 3.4% in the last reading.
On a basis, it was stable at 0%, and expectations were at 0.1%, while the previous reading recorded 0.4%.
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Unemployment benefits data
It recorded 218,000 orders, less than experts expected, who expected 220,000. Especially since it recorded 211 thousand readings last week after adjusting the reading.
Thus, it reached 220 thousand in 4 weeks, after recording 220.50 thousand last week.
The weekly unemployment index provides very temporary data, quantifies the amount of individuals claiming unemployment insurance for the first time during the past week and traders view unemployment as an indicator that gives a simple indication of the future performance of the economy. A downward trend has a positive impact on a country’s currency, as workers tend to spend more money.
Gold and dollar now
It is now falling by 0.34% to $2,040 an ounce.
Meanwhile, spot gold contracts fell by 0.22% to $2,040 per ounce.
On the other hand, the dollar index rose by 0.45% to 103.135 points.
2023-11-30 13:33:00
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