Conor Maloney
Fed Official Richard Clarida Advises Against Rate Cut, Gold Price Rises
Federal Vice Chair Richard Clarida stated on Thursday that there is no need for a rate cut as the US economy is “in a good place” with an appropriate interest rate.
Gold Price Remains Stable as Jobless Claims Rise Slightly
The week ended May 25 saw a slight increase in initial jobless claims which rose by 3,000 to 215,000, in line with market expectations. The labor market is still considered to be at its strongest point in decades.
Home Price Growth Slows Again in March, Gold Price Ticks Downward
The average home price in the US rose 3.7% annually in March, 0.2% less than the growth seen in February according to the S&P CoreLogic Case-Shiller home price index.
Unexpected Drop in April Durable Goods Orders Led by Transportation Equipment
New orders for capital and durable goods produced in the US dropped more than expected in April, supporting the view that the economy is slowing after an anomalous Q1 GDP boost.
Initial Jobless Claims Fall Unexpectedly in April, Gold Prices Rise
The number of US citizens filing for unemployment benefits dropped to 211,000 vs. 215,000 expected for the week ended May 18, according to the Labor Department. While the economy may be losing some momentum, the labor market continues to show signs of strength.
Home Sales Fall Despite Lower Mortgage Rates
The housing market continues to show signs of weakness with the latest report revealing a decrease in home sales for the month of April. Home sales have now declined for 14 months in a row.
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