Weekly data on claims in the U.S. have somewhat dispelled the pessimism. The number of initial claims for benefits for the week ending August 1st fell to 1186K, better than the 1435K the week earlier and expectations of 1410K.
The number of continued claims for the week ending July 25th fell by 844K to 16 107K. This revival of the downward trend for claims has slightly reduced the fears around the labour market, only a day before the publication of the official NFP report.
The number of initial claims had grown the last two weeks, with an increase in the number of continued applications the previous week. Yesterday, ADP data showed weak employment growth in July. However, the actual weekly data somewhat smooths out this negative.
The FxPro Analyst Team
- Nasdaq 100 reversed from strong support level 21000.00 - Likely to rise to resistance…
- USDJPY reversed from key support level 156.35 - Likely to rise to resistance level…
The recent declines in US indices may have broken the bullish trend, indicated by technical…
The dollar has paused its strengthening, as weaker-than-expected inflation data reduces fear of future Fed…
Bitcoin finds support near the 50-day moving average, but further declines in the stock market…
- EURCHF falling inside minor impulse wave 5 - Likely to fall to support level…
This website uses cookies