Today, traders also had a chance to take a look at the Initial Jobless Claims report. The report showed that 258,000 Americans filed for unemployment benefits in a week, compared to analyst consensus of 230,000.
Treasury yields pulled back as traders reacted to the reports. The yield of 2-year Treasuries declined below the 4.00% level, while the yield of 10-year Treasuries pulled back towards 4.05%. It should be noted that Treasury yields have already started to rebound from recent lows.
U.S. Dollar Index pulled back from session highs as traders ignored rising Core Inflation Rate and focused on the disappointing Initial Jobless Claims report. Most likely, U.S. Dollar Index will remain volatile as traders digest the data.
Gold settled near the $2620 level. Gold traders monitor the dynamics of the U.S. dollar and Treasury yields.
