US unemployment claims worse than expected

At 12:30 GMT, the US economy released the unemployment claims reading, at 0.840 million in the week ending October 3, worse than forecasts of 0.820 million, vs. 0.849 million in the previous week after it was revised from 0.837 million.


Attached Files:

Posted By laraparker : 08 October, 2020
Related Article

The British pound held steadily on Wednesday, despite the release of disappointing economic data and fears about the coronavirus crisis.   British Prime Minister Boris Johnson revealed a new plan to tighten the lockdown restrictions in the UK, to curb a second wave of infections.    The plan includes earlier closing times for pubs, nightclubs and restaurants, and could stay in place for the next six months.   Otherwise, data showed today that the UK's manufacturing PMI fell to 54.3 points in September, on par with forecasts, vs. August's reading of 55.2.   The services PMI fell to 55.1 points vs. 58.8 in August, which came lower than forecasts of 57 points.   As of 19:55 GMT, GBP/USD held at 1.2727, after hitting a day high of 1.2776 and a low of 1.2677.

The British pound held steadily on Wednesday, despite the release of disappointing economic data and fears about the coronavirus crisis.   British Prime Minister Boris Johnson revealed a new plan to tighten the lockdown restrictions in the UK, to curb a second wave of infections.    The plan includes earlier closing times for pubs, nightclubs and restaurants, and could stay in place for the next six months.   Otherwise, data showed today that the UK's manufacturing PMI fell to 54.3 points in September, on par with forecasts, vs. August's reading of 55.2.   The services PMI fell to 55.1 points vs. 58.8 in August, which came lower than forecasts of 57 points.   As of 19:55 GMT, GBP/USD held at 1.2727, after hitting a day high of 1.2776 and a low of 1.2677.

The Japanese yen rose on Friday against the US dollar, shrugging off the release of disappointing economic data.   This came amid cautious hopes about the possibility of a second aid package in the US to ease the coronavirus impact on the world's largest economy.   Bearing in mind that US President Trump decided to stop the second Covid-19 stimulus talks with Democrats until after the presidential election.   Data showed today that Japan's average income fell 1.3% during September, more than expected of drop by 1.2%, after falling by 1.5%  in the previous reading.   The Japanese household spending index fell 6.9% in September, more than forecasts of a drop by 6.6%.   As of 20:48 GMT, USD/JPY fell 0.4% to 105.6, after hitting a high of 106.05 and a low of 105.5.


Post your comment