Insights 
VT 
Continuing jobless claims in the United States for the period ending June 13 reached 1.974 million, surpassing the anticipated 1.95 million. The figure presents an increase from previous expectations, reflecting the ongoing challenges within the job market.
In other market movements, EUR/USD is showing gains, trading near 1.1700 during European trading sessions. This upward trend is occurring amidst a weakening US Dollar, as market participants eye the debate over the Fed’s independence.
Gbp Usd Performance
GBP/USD continues to perform strongly, maintaining levels above 1.3700 and approaching three-year highs. This rise parallels ongoing US Dollar weakness and speculation regarding US monetary policy directions.
Gold’s price has sustained a mild positive trend despite failing to surpass the $3,350 threshold. Speculation about changes in the Federal Reserve leadership may be fuelling investor caution.
Bitcoin Cash has shown a 2% rise, propelled by a previous 6.39% increase, with its price nearing the $500 mark. Trading signals suggest a potential for continued bullish momentum in the cryptocurrency market.
Concerns over the potential closure of the Strait of Hormuz are influencing oil market sentiment. This stems from heightened tension in the Israel-Iran conflict, underscoring the strategic significance of this critical sea passage.
Jobless Claims Insight
The higher-than-expected continuing jobless claims in the US, now at 1.974 million, indicate a more persistent weakness in the labour market than initially forecast. That slight yet clear increase from the projected 1.95 million reveals that those already unemployed are finding it harder to return to work, rather than seeing just a surge in fresh job losses. For us watching short-term volatility, this kind of data point often reshapes rate expectations and shifts the balance of where forward guidance may lean—particularly when paired with larger employment trends and inflation readings.
This weaker US jobs data comes at a moment when the Dollar is already under some pressure. Looking at EUR/USD’s strength near 1.1700, that movement can’t be dismissed as just temporary noise. The Euro’s advance has been supported by a creeping sense among investors that the Federal Reserve is caught between political pressures and economic necessity. Debate surrounding the balance of power at the Fed only adds to uncertainty, and markets rarely reward uncertainty with a steady hand.
In a similar fashion, GBP/USD nearing highs not seen since early 2021 adds to the picture of broader Dollar fragility. It’s not just that sterling is rallying—the Greenback is losing ground across multiple fronts, with rate speculation and institutional trust being brought into sharper relief. There’s a narrowing path ahead where data could solidify or shift those expectations, and Cable performance often reflects policy divergence narratives before they become mainstream.
Gold’s inability to break cleanly above $3,350 may signal underlying hesitation among traders. While flows into safe-haven assets aren’t retreating, they’re also not accelerating with the kind of conviction you’d see if fear were the dominant emotion. The slow upward drift tells us there’s a bid for safety, but not a rush. Traders may be holding back until more clarity emerges either from the Fed or from risk indicators such as the VIX or Treasury yields.
As for Bitcoin Cash, a 2% rise following a sharper 6.39% jump in previous sessions shows momentum building—but not yet at a pace that looks overextended. It’s common for mid-tier digital assets to post strong relative gains when Bitcoin stabilises, and this one is testing resistance near the $500 zone. We’ve seen this pattern reappear when risk-on sentiment filters into crypto markets from broader macro expectations. Strength here is frequently underpinned by broader inflows and short squeeze setups, especially during low liquidity periods or weekend gaps.
Oil markets, meanwhile, are showing symptoms of geopolitical stress, particularly due to fresh unease surrounding the Strait of Hormuz. The risk premium is being priced in gradually, and while spot prices haven’t surged out of range, they’re nudging upward. The channel is essential for global oil movement, so any hint of obstruction tends to ripple quickly through forward contracts. That’s a space where optionality becomes extremely valuable, especially when hedging refineries or transport bottlenecks.
Given this backdrop, attention should now shift to next-tier economic prints and possible Fed commentary. Positioning should tighten around volatility pockets, particularly when geopolitical or central bank developments have the potential to break trend momentum or reinforce existing moves. Markets are watching the small things now—because they often precede the big shifts.
