MHMarkets：Initial jobless claims rise slightly and the market waits for non-farm.

MH Markets | 2023-12-08 17:46

Abstract：At the end of the Asian market on Friday (December 8), the US Department of Labor reported yesterday evening that as of the week ending December 2, the number of initial jobless claims in the US was 220,000, with an expected 222,000, compared to 218,000 previously.

At the end of the Asian market on Friday (December 8), the US Department of Labor reported yesterday evening that as of the week ending December 2, the number of initial jobless claims in the US was 220,000, with an expected 222,000, compared to 218,000 previously. As of the week ending November 25, the number of people continuing to apply for unemployment benefits decreased by 64,000 to 1.86 million, marking the second decline since early September. The overall number of initial claims for unemployment benefits is still on the rise. Despite the increase in the past two months, the number of Americans reapplying for unemployment benefits experienced the largest decline since July during the holiday week. As of the week ending November 25, the number of people reapplying for unemployment benefits decreased by 64,000 to 1.86 million, the second decline since early September, following a surge in the previous week. But this is mainly due to the fluctuation of the data in US Treasury bonds, especially during holidays. The four-week moving average of the number of people applying for unemployment benefits is currently at its highest level in two years, smoothing out some of the fluctuations. The US dollar index fell yesterday in the US market due to the impact of data, and has continuously broken through multiple support levels. At the opening of the Asian market today, the US dollar index fluctuated slightly, with a current price around 103.70. Gold was suppressed after breaking through resistance above yesterday, and then the market fell, showing an overall volatile state, closing near the intraday median. At the opening of the Asian market today, gold fluctuated slightly, with the current price around 2029.21. US crude oil fluctuated slightly during the day, and after breaking through the low point support formed before, the price began to rise and continued until the opening of the Asian market today. The current US crude oil price is around 70.93. EURUSD received support below yesterday, and the market accelerated its rise during the US session, breaking through resistance above and ultimately closing near the intraday high. At the opening of the Asian market today, EURUSD fluctuated slightly, with a current price around 1.0784. The Japanese Cabinet Office released data on December 8, stating that the revised annualized quarterly rate of Japan's real GDP for the third quarter was -2.9%, and the revised quarterly rate of Japan's real GDP for the third quarter was -0.7%. Yesterday, USDJPY was affected by the policies of the Bank of Japan, causing the market to accelerate a sharp decline and continuously break through multiple support levels below, ultimately closing near the intraday low. At the opening of the Asian market today, USDJPY continued to fluctuate widely, with a current price around 144.07.

MHMarkets strategy is only for reference and not for investment advice. Please carefully read the statement at the end of the text. The following strategy will be updated at 15:00 on December 8, Beijing time.

Gold XAUUSD·
Resistance	2039.66 – 2053.33 – 2076.42
Support	2011.15 – 2005.55 – 2001.79
The above figure shows the 30 minute chart of gold. The chart shows that the recent upward resistance of gold has been around 2039.66-2053.33-2076.42, and the downward support has been around 2011.15-2005.55-2001.79. The market will be judged by whether to break through the upper and lower support and resistance. Note: The above strategy was updated at 15:00 on December 8. This policy is a daytime policy. Please pay attention to the policy release time.

Crude Oil USOUSD·
Resistance	72.73 – 74.24 – 74.81
Support	69 – 67.11 – 64.33
The above chart shows the 30 minute chart of US crude oil. The chart shows that the recent upward resistance of US crude oil is around 72.73-74.24-74.81, and the downward support is around 69-67.11-64.33. The market will be judged by whether to break through the upper and lower support and resistance. Note: The above strategy was updated at 15:00 on December 8. This policy is a daytime policy. Please pay attention to the policy release time.

EURUSD·
Resistance	1.0817 - 1.0847 - 1.0880
Support	1.0767 - 1.0755 - 1.0701
The above figure shows the 30 minute chart of EURUSD. The chart shows that the recent upward resistance of EURUSD is around 1.0817-1.0847-1.0880, and the downward support is around 1.0767-1.0755-1.0701. The market will be judged by whether to break through the upper and lower support and resistance. Note: The above strategy was updated at 15:00 on December 8. This policy is a daytime policy. Please pay attention to the policy release time.

GBPUSD·
Resistance	1.2613 – 1.2651 – 1.2687
Support	1.2544 - 1.2523 – 1.2503
The above figure shows the 30 minute chart of GBPUSD. The chart shows that the recent upward resistance of GBPUSD is around 1.2613-1.2651-1.2687, and the downward support is around 1.2544-1.2523-1.2503. The market will be judged by whether to break through the upper and lower support and resistance. Note: The above strategy was updated at 15:00 on December 8. This policy is a daytime policy. Please pay attention to the policy release time.

MHMarkets Precious Metal Crude oil Foreign Exchange Fundamentals Overview Techinical Level CPI

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