The number of Americans filing for unemployment benefits fell more than expected last week, hitting its lowest level since October, pointing to sustained strength in the labor market that should further dispel fears of a recession.
The U.S. dollar rose along with stocks on Friday after data showed the labor market in the United States was in good shape, fanning expectations the Federal Reserve will gradually raise interest rates this year.
U.S. employment gains surged in February, the clearest sign yet of labor market strength that could further ease fears the economy was heading into recession and allow the Federal Reserve to gradually raise interest rates this year.
More talk of production cuts is giving support to crude oil despite near-record supply against a back drop of commodities going wild! China jumped into its stock market this morning to prop up stocks and it seemed to give oil a boost. Gold is back in vogue with banks going to negative interest rates and China making shorting stock a crime all is making gold look like a safer investment.