FET/USDT Analysis – Will We See a Reversal Soon?

Current Price: $1.2437 As we analyze the FET/USDT chart, we can observe some critical zones and patterns that could provide insight into potential

#US jobless claims fell last week to the lowest level since mid-March 2020

Initial claims for state unemployment benefits dropped 19,000 to a seasonally adjusted 211,000 for the week ended Dec. 3, the Labor Department said on Thursday. Economists polled by Reuters had forecast 225,000 claims.

The claims data covered the survey period for the government’s closely watched monthly employment report. Payrolls are expected to have increased by 420,000 in November after rising 261,000 in October. The unemployment rate is forecast to have fallen to 4.5% from 4.6%.

The Federal Reserve is closely watching the labor market as it prepares to tighten monetary policy. The central bank wants to see maximum employment before raising interest rates.

Theịp claims numbers are volatile and can be distorted by special factors, such as the Thanksgiving holiday last week. The four-week moving average of claims, which smooths out week-to-week volatility, fell 3,500 to 220,000 last week.

Continuing claims for unemployment benefits, a measure of the number of people receiving benefits, dropped 124,000 to 1.94 million in the week ended Nov. 26.

Continuing claims are now down to pre-pandemic levels. They hit a record high of 24.2 million in May 2020.

FEDERAL RESERVE-INTEREST RATES-UNEMPLOYMENT