Gold prices see technical selling, ignoring U.S. weekly jobless dropping to 190K
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The latest labor market data solidly beat economist expectations as consensus estimates were looking for claims to rise by 196,000. The four-week moving average for new claims – often viewed as a more reliable measure of the labor market since it flattens week-to-week volatility – rose, by 1,750 claims to 193.00.
According to some analysts, the latest weekly jobless claims data will continue to ease fears that the U.S. economy is headed towards an imminent recession. However, the data is not good for anyone who is expecting the Federal Reserve to end its tightening cycle in the first half of this year.
France Dernières Nouvelles, France Actualités
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