On October 8, the U.S. Department of Labor announced that initial jobless claims for the week ending October 3 totaled 197,000. This was below the market forecast of 200,000, while continuing claims rose slightly to 1.716 million.
The U.S. labor market continues to show remarkable resilience. Claims remaining below the 200,000 mark indicate that businesses are still limiting layoffs despite high interest rates.
The data bolstered the U.S. dollar and put upward pressure on government bond yields. Expectations that the Fed will ease monetary policy soon continue to be pushed back, as the real economy has yet to show clear signs of weakness.
In crypto markets, caution may prevail in the short term as macroeconomic flows remain under pressure from high yields. $BTC and risk assets need a fresh liquidity boost to break out of their current consolidation range.
#USLaborMarket #JoblessClaims #FederalReserve
The U.S. labor market continues to show remarkable resilience. Claims remaining below the 200,000 mark indicate that businesses are still limiting layoffs despite high interest rates.
The data bolstered the U.S. dollar and put upward pressure on government bond yields. Expectations that the Fed will ease monetary policy soon continue to be pushed back, as the real economy has yet to show clear signs of weakness.
In crypto markets, caution may prevail in the short term as macroeconomic flows remain under pressure from high yields. $BTC and risk assets need a fresh liquidity boost to break out of their current consolidation range.
#USLaborMarket #JoblessClaims #FederalReserve