The United States released its unemployment claims data for December at 20:30 WIB. Unemployment claims refer to the number of individuals filing for unemployment benefits in the US.
The reported unemployment claims came in at 220K, which is lower than the trading central forecast of 235K. Additionally, the US GDP was reported at 3.1%, surpassing the forecast of 2.8%.
The lower-than-expected unemployment claims usually indicate a stronger labor market. Investors often interpret this as a sign of economic resilience, boosting confidence in consumer spending and overall economic growth.
Following the data release, gold weakened further to the level of $2,600 and may continue to decline. Conversely, the EURUSD currency pair increased, while GBPUSD saw a drop after the release of the BOE’s interest rate data.
