Market Reaction: US Job Data Misses Expectations, Gold Jumps Above $2,000.

Investing.com – The US JOLTS jobs data, which missed expectations this time around, helped move markets during these moments of Tuesday’s trading.

The data was negative this time, motivating the Fed to calm down in the coming period, that is, it supports and other assets that are negatively affected by the tightening monetary policy.

In conjunction with the release of the data, it consolidated its gains, now jumping by more than 0.6%, above the levels of $2,000 an ounce, while it stabilized without a rise or fall.

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 Toward cooling as a sign of slowing economy and then lower inflation.

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The US economy provided nearly 9.590 million jobs, while experts expected 9.775 million jobs to be created in April.

The previous reading was revised up to 9.974 million job opportunities for the month of March, down from 9.931 million job opportunities.

Employment 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 refers to US employment opportunities a lot when talking about the strength of the US market.

Gold and the dollar now

It rose by 0.7% at $1,996 an ounce.

It rose 0.6% to 2004 dollars.

While it settled at 101.9 points.

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