Impact on GOLD as per Initial Jobless Claims & Philadelphia Data – 20-7-2023

Initial Jobless Claims

Initial Jobless Claims are a measure of the number of individuals who filed for unemployment insurance for the first time during the previous week. It is an important indicator of the health of the labor market and is closely watched by economists.

• Forecast: The Initial Jobless Claims measure the number of individuals filing for unemployment benefits for the first time. The forecast for this economic indicator provides an estimation of the expected number of new jobless claims in a given period.
• Result: The result of the Initial Jobless Claims indicates the actual number of individuals who filed for unemployment benefits during the specified period.
• Effect: A higher number of Initial Jobless Claims suggests a weaker labor market and potentially negative implications for the overall economy. Conversely, a lower number of claims is indicative of a stronger job market and a positive outlook for the economy.

Philadelphia Fed Manufacturing Index

The Philadelphia Fed Manufacturing Index is a survey of manufacturing activity in the Philadelphia Federal Reserve District. It measures changes in business conditions such as production, new orders, employment, and prices. The survey is used to measure the health of the manufacturing sector in the region.

• Forecast: The Philadelphia Fed Manufacturing Index forecasts the general business conditions for the manufacturing sector in the Philadelphia Federal Reserve District. It provides insights into the overall health and performance of the manufacturing industry.
• Result: The result of the Philadelphia Fed Manufacturing Index indicates the actual level of manufacturing activity in the Philadelphia region during a specific period.
• Effect: A higher Philadelphia Fed Manufacturing Index suggests an expansion in the manufacturing sector, which is positive for the regional and national economy. Conversely, a lower index value indicates a contraction in manufacturing activity, which may have negative implications for the economy.

Effect on gold :

The Initial Jobless Claims and Philadelphia Fed Manufacturing Index can have an impact on the XAUUSD (Gold) market. These economic indicators provide valuable insights into the strength of the economy, which in turn can influence the demand for gold as a safe-haven asset.

Where to contact us :

Website : www.forextrade1.co
Twitter : www.twitter.com/forextrade11
Telegram : telegram.me/ftrade1
Facebook : www.facebook.com/Forextrade01
Instagram : www.instagram.com/forextrade1
YouTube : www.youtube.com/ForexTrade1
Skype : forextrade01@outlook.com
Email ID : info.forextrade1@gmail.com
Discord : https://discord.gg/vEk98ZvrHP
LinkedIn : https://www.linkedin.com/company/forextrade11