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Investing.com – The US JOLTS jobs data is now out, which contributed to moving markets during these moments in Tuesday’s trading.
The labor market data was negative this time, spurring the Fed towards calm in the coming period, that is, it supports gold and other assets that are negatively affected by the tightening monetary policy.
In conjunction with the issuance of the data, it jumped by more than 1% to the highest levels of $2,000 an ounce, while it deepened its decline, falling by 0.4%, recording 101.3 points.
The importance of the employment data issued today increases, because it gives an overview of the Fed’s move in the upcoming meetings, as if the data comes positive, the Fed stimulates it towards more tightening and that the economy is still in good health, and vice versa, if the data comes negative, that may push the Fed Towards cooling as a sign of slowing economy and then lower inflation.
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The US economy provided nearly 9.931 million jobs, while experts expected 10.4 million jobs to be created in March.
The previous reading was revised down to 10.563 million job opportunities for the month of February, down from 10.824 million job opportunities.
Employment opportunities data is of great importance as it is an indicator of the state of the US labor market and its ability to keep up with rising interest rates, as Jerome Powell uses US job opportunities a lot when talking about the strength of the US market.
Gold and the dollar now
It rose by 1.2% at 2008 dollars an ounce.
US gold futures rose 1.35% to $2027.
While it decreased by 0.4%, to score 101.37 points.
