Jobless Claims Hold Steady, Gold Prices and Bitcoin React

The initial jobless claims for the week ending June 17 remained elevated at 264,000, while the four-week moving average for initial claims increased to 255,750. The continuing claims for the week ending June 10 decreased by 13,000 to 1,759,000, with the four-week moving average for continuing claims decreasing to 1,770,000. The steady reading of continuing claims suggests people are finding jobs relatively quickly after being let go. The expectations are for a 71% chance of a hike in July, but only a 19% chance of a second hike by November.