Weekly claims for unemployment benefits in the USA resume its decline. Last week, the number dropped from 842K to 787K. The new figures are still higher than two weeks ago, reflecting the negative impact of the jump in new coronavirus cases.
However, continued claims are falling with an accelerating pace, indicating that the labour market is continuing to create new jobs. The overall number fell to 8.37M for the week ending October 10th compared to 9.40M the week before with expected growth of 9.5 million.
This is positive news for US markets, including the US dollar and equities, as it reduces the degree of concern around the worst-case scenario. On the back of this report, the dollar may get a break after four trading sessions of decline, as well as containing the pressure on S&P500 since the beginning of last week.
The FxPro Analyst Team
The crypto market has continued to cool down for the third day, with a 1.7%…
- GBPUSD reversed from strong support level 1.2665 - Likely to rise to resistance level…
- USDCAD broke resistance level 1.3950 - Likely to rise to resistance level 1.4050 USDCAD…
The US dollar has strengthened, reaching the upper boundary of its trading range. The British…
Cryptocurrencies continued to surge, pushing the total cap to $3 trillion. Bitcoin has gained nearly…
- USDJPY broke key resistance level 154.70 - Likely to rise to resistance level 157.20…
This website uses cookies