Urgent: Unemployment data and additional strength for the Fed..Everyone is falling and the dollar is flying towards the 113

Tomorrow, markets are waiting for US employment data to determine whether the economic damage from Fed tightening has affected the labor market or whether the market is stronger than that and is able to create opportunities and add business despite the interest rate hike. Yesterday, in the press conference held following the announcement of the Fed raising interest rates by 75 basis points to 4.00%, the Fed Chairman adopted a view that the US market is strong and job opportunities are available and that selectivity is what stands in the way of a strong increase in the US labor market.

Today, the weekly unemployment data for the US market is released and investors are awaiting it as an indication of the state of the US labor market.

unemployment data

The US market recorded 217 applications for unemployment benefits, while experts expected that it would receive 220,000 applications for unemployment benefits. It is noteworthy that the US economy received 217 thousand applications for unemployment benefits last week, and it was revised to 218 thousand after the revision.

The 4-week average US jobless claims fell to 218.75K, from 219.25 last week.

US trade balance

The US trade balance for the month of September recorded a deficit of -73.3 billion dollars, and experts expected the deficit to reach only -72.2 billion dollars.

Markets now

Spot gold contracts against the dollar are now down by 0.83% and trading at $1621.87 an ounce, while silver fell by 3.7% to $18.870 an ounce.

As for oil, Texas crude fell sharply to 88.78, down by 1.37%, while Brent oil fell by 1.12% to record $95.07 a barrel.

The US dollar index is now rising by 1.55% to record 112.955 against a basket of foreign currencies, while the euro is down by 0.76% to record 0.9742 against the dollar.

The US bond yields are rising, with the 10-year Treasury bond yield rising by 2.94% to 4.181%, and the two-year US Treasury bond yield with a 3.1% growth and 4.7117%.

American indices continue to decline in pre-opening trading, as Dow Jones futures lost 174 points, down by 0.56%, while Nasdaq futures contracts, recording a decline of 1.03%, and S&P 500 futures lost nearly 0.8% from worth.

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