Pete Wargent blogspot

CEO AllenWargent Property Buyers, & WargentAdvisory (institutional). 6 x finance author.

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Friday, 7 October 2016

US jobless claims down again

Hike looming

US initial jobless claims ticked down again by a further 5,000 to 249,000, taking the 4-week average to the lowest level since 1973 at 253,500 according to the US Department of Labor.

The weekly result has now remained below 300,000 for 83 weeks, a record streak stretching back more than four decades.

The gold price took another leg down from a 12-month high of US$1,365/oz to around a 3.5-month low of US$1,255/oz. 

These data are of particular interest to Australian economy onlookers given that a Fed rate hike is deemed likely to be imminent. 

US nonfarm payrolls to follow...