NFP could be good news for Gold reaching new highs tonight. Expectations are for 200000 new jobs but I think this is way too high.
Following Wednesday dissapointing ADP payroll report further evidence of a job market cool down emerge in the form of the latest US jobless claims numbers released by the US Labor deparment.
The number of Americans filing for unemployment benefits rose more than expected last week, posting the biggest gain in more than a year. Initial claims for state unemployment benefits increased by 17,000 to a seasonally adjusted 274,000 for the last week of April, the Labor Department said on Thursday. Last week's increase was the largest since February of last year. Expectations was for a number in the region of 260,000.
This Friday the NFP report will shed more light into the state of the labor market.
