US releases weekly Unemployment Claims

Source: Dukascopy Bank SA


The US statisticians have published the weekly Unemployment Claims numbers. Released numbers are below market expectations, which is causing a recovery of the US Dollar and the US stock markets.

Consensus forecast was that the Unemployment Claims would come in at 241,000 new people claiming unemployment insurance during the week. The actual number is 233,000, which is seen as positive.

The markets are currently watching closely all employment and inflation data, as it signals whether the US Federal Reserve will keep interest rates unchanged or cut rates. Bad employment data is a signal that the Fed has to cut rates to save the economy. On August 8th, the markets forecast that the Fed is 100% set to decrease rates by 50 base points at the September meeting.
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