Previous Trading Days Events 16.05.2024

The number of Americans filing new claims for jobless benefits fell last week, job growth is cooling though and the number remains high enough to coincide with other relevant data.

There are signs that the economy slowed further early in the second quarter as the delayed effects of the Federal Reserves hefty interest rate hikes started to have a bigger impact. 

Aprils economic data, including nonfarm payrolls and retail sales, have so far come in below economists expectations.

The economy is losing momentum in the face of restrictive monetary policy, said Sal Guatieri, a senior economist at BMO Capital Markets. But the jury remains out on how quickly inflation will subside to provide some rate relief.

The PCE price indexes are the inflation measures tracked by the Fed for monetary policy. Goldman Sachs now expects the core PCE price index to have increased by 0.26 in April after rising 0.3 in March. It forecasts core inflation advancing 2.77 yearonyear, essentially matching Marchs increase after rounding.

Source httpswww.reuters.commarketsususweeklyjoblessclaimsfalllabormarketgraduallyeasing20240516

Winners vs Losers

Silver is still on the top as the top gainer for the week and month with 5.25 and 12.50 gains so far respectively.

News Reports Monitor Previous Trading Day 16.05.2024

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Midnight Night Session Asian

Labour market data for Australia were released at 430….