"The release of initial jobless claims, the first official update since the federal shutdown began in early October, showed filings rising to 232,000 for the week ending October 18, well above the 223,000 expected. Continuing claims climbed to 1.957 million, further pointing to a soft labour market. Still, markets are focusing on tomorrow's NFP, where payrolls are expected to rebound to 50,000 from 22,000, while unemployment is seen steady at 4.3%. A weaker-than-expected print would likely revive rate-cut expectations, pressuring treasury yields while supporting gold."
"Gold traded steadily on Wednesday, with investors adopting a wait-and-see stance ahead of the Federal Reserve's minutes later today and the highly anticipated nonfarm payrolls report due on Thursday. With traders assigning a 46% probability to a December rate cut, uncertainty over the policy outlook has kept bullion confined to a narrow range. Labor-market signals have offered mixed clues. The release of initial jobless claims, the first official update"
Gold traded steadily as investors awaited the Federal Reserve's minutes and the U.S. nonfarm payrolls report, keeping bullion in a narrow range amid policy uncertainty. Traders assigned a 46% probability to a December rate cut. Labor-market data sent mixed signals: initial jobless claims rose to 232,000 versus 223,000 expected, and continuing claims climbed to 1.957 million, indicating softness. Markets anticipate payrolls rebounding to 50,000 with unemployment steady at 4.3%; a weaker print would boost rate-cut odds and support gold, while stronger data could pressure the metal. Elevated tensions in Russia-Ukraine and Middle East risks add safe-haven support.
Read at London Business News | Londonlovesbusiness.com
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