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Newsletter summary

The lower-than-expected number of initial jobless claims in the United States shows that the labor market is strong; the Federal Reserve keeps interest rates unchanged and Powell stressed that inflation remains high and the labor market has not slowed down. Gold prices rebounded to more than $2300 after falling.

Text of news flash

[the number of initial jobless claims in the United States is lower than expected after the gold price shock] the number of initial jobless claims in the United States remains at a low level, indicating that the labor marketOvitoonscasinonodepositbonusThe strong momentum. Although demand has weakened, the layoff rate remains low, and companies continue to retain employees. At the same time, the Fed announced that it would keep the target range of the federal funds rate at 5.Ovitoonscasinonodepositbonus.25% to 5%Ovitoonscasinonodepositbonus.50% unchanged and slowed the pace of balance sheet contraction since June. Private sector employment in the United States increased by about 192000 last month, exceeding market expectations, reflecting the impact of various industries on the labor force.OvitoonscasinonodepositbonusThere is a strong demand. While this data is a positive sign for the Fed, it is not enough to prompt it to change its current high interest rate strategy. In its latest interest rate resolution, the Federal Reserve announced that the target range of interest rates would remain unchanged, the sixth consecutive suspension of interest rate increases since September last year. The move was in line with market expectations, and the FOMC voting committee voted unanimously in favor of the decision. Federal Reserve Chairman Colin Powell said at a news conference that despite considerable progress in the economy, inflation is still too high, and the Fed is committed to its goal of restoring inflation to 2%. He stressed that reducing policy restrictions too early or too little would pose risks and that current interest rates would continue to help control inflation and support the job market. Although the Fed has chosen to stay put, the vitality of the labour market and the maintenance of wage growth show the stickiness of inflation. This is in line with the Federal Reserve's decision, but it also means that the Fed is likely to maintain its current interest rates for some time to come. Affected by the strong US labor market and interest rate decisions, the price of gold returned to the $2300 / oz mark after a shock. As of press time, the quotation is 2303.1 US dollars per ounce.