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The lower-than-expected claims print alongside an upward revision to the prior week points to a still-resilient US labor market even as a senior Fed official flags the possibility of further hikes. That combination reduces pressure for near-term Fed easing, which could keep US yields and USD firmer while weighing on Gold.
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US initial jobless claims for the week ending October 3 came in at 197,000, below the 200,000 expected, while the prior week was revised up to 199,000, as Fed Governor Waller said more rate hikes are still needed but the Fed will stay flexible on pace.
The lower-than-expected claims print alongside an upward revision to the prior week points to a still-resilient US labor market even as a senior Fed official flags the possibility of further hikes. That combination reduces pressure for near-term Fed easing, which could keep US yields and USD firmer while weighing on Gold.
Jin10·10/08, 08:11 PM
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