#economic-data

#economic-data

Gold edged slightly higher above USD 4,000 per ounce on Monday, stabilizing after a period of selling pressures. Gold benefited from the Federal Reserve's rate cut but could come under pressure as markets consider Powell's comments. The Fed Chair suggested that further easing in December was not guaranteed. Markets now price in roughly a 70% probability of another reduction, down from more than 90% before his comments.

JPMorgan Chase CEO Jamie Dimon issued a sobering assessment of the American economy in an interview with CNBC on Tuesday, acknowledging clear signs that it's growing weaker and expressing uncertainty over its future trajectory. Still, he stopped short of making a recession call, saying that there is such a range of data that it's hard to parse. "We get data like you wouldn't believe. The government data is important. Our own data is important."

California experienced the only statistically significant month-to-month increase in unemployment among states, rising 0.1 percentage points from June, according to BLS data.

The Treasury confirmed that Hansard had been amended following errors made by the Chancellor during committee hearings, particularly in figures regarding pension scheme management.

Economists and decision-makers face a dilemma between needing swift information and the necessity of accuracy, often relying on preliminary estimates that are later revised.

Stocks were poised to add to recent gains as futures ticked higher ahead of crucial inflation reports. The consumer price index will provide clues on tariffs' impact on inflation.

This is damaging. I don't know that there's any grounds at all for this firing. And it really hurts the statistical system. It undermines credibility in BLS.

The Trump administration highlighted a shift in the US ice cream trade balance, pointing to a deficit of $40.6 million under Biden compared to a surplus in 2020.

The ADP report indicated only 37,000 jobs were added in May, significantly below the forecast of 110,000 and also lower than April's figures.