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Weekly Opening 13-17 January 2025

by Gurkan Aydogan
Weekly Opening 13-17 January 2025

Last week, we observed increased volatility in precious metals.

On the first trading day of last week, the U.S. Services Purchasing Managers' Price Index (PMI) figures were announced. While the expectation was 58.5, the actual figure came in at 56.8. This could signal a slowdown in U.S. economic activity.

When examining the U.S. labor market, the Job Openings and Labor Turnover Survey (JOLTS) came in at 8.098 million, exceeding the expectation of 7.730 million. Initial Jobless Claims were expected at 214K but were reported at 201K. Last Friday, the Non-Farm Payrolls data was released, with expectations of 164K, but the actual figure was 256K. Additionally, the Unemployment Rate was anticipated to be 4.2%, but it came in at 4.1%, signaling that the U.S. labor market strengthened last month.