© Reuters.
Investing.com – Some important US data is out now that should give an overview of the situation, with the weekly unemployment claims, GDP and durable goods data all coming out against expectations.
The just-released data encourages the Federal Reserve to continue its tight monetary policy, as it indicates that the economy is still strong, after a larger-than-expected increase in GDP, in addition to a slight increase in applications for unemployment benefits, and an increase in orders for durable goods.
Immediately after the release of the data, gold futures contracts declined after they had been stable, while spot contracts for the yellow metal reduced their gains, in addition to the dollar maintaining its gains.
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Unemployment, GDP and durable goods data
It recorded an increase of 4.9%, and experts’ expectations were at 4.3%, while the previous reading recorded a growth of 2.1%.
It recorded 210,000 applications, higher than experts’ expectations of 208,000. The previous reading was 198 thousand, but it was revised upward to 200 thousand.
Thus, it rose in 4 weeks to 207.5 thousand, while the previous reading recorded 205.75 thousand, but it was raised to 206.25 thousand.
While orders for basic durable goods recorded on a monthly basis in September 0.5%, expectations were at 0.2%, while the previous reading recorded 0.4% but was raised to 0.5%.
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Gold and dollar now
It fell by 0.12% to $1,992 an ounce.
While it rose by 0.15% to $1983 per ounce.
On the other hand, it is now rising by 0.2% to 106.55 points.
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2023-10-26 12:33:00
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