The previous week, the total number of US citizens who filed applications for jobless benefits decreased to a 49-year minimum. It could soothe fears about a deceleration in the labor market and also in the US economy, in general.
Other Thursday’s data disclosed that in November import prices sank by the most for more than three years because the cost of petroleum products slumped and a firm greenback put pressure on prices of other products, hinting at subdued imported inflation.
Eventually, tightening labor market conditions back hopes that the Fed is going to have interest rates increased at its December 18-19 policy gathering. With inflation likely to stay tame through the first half of next year, market experts see fewer rate lifts in 2019.
The main US financial institution has ramped up borrowing costs up to three times in 2018.
By December 8, initial claims for state unemployment benefits went down by 27,000 to a seasonally updated 206,000, as the Labor Department revealed. The dive in applications that turned out to be the largest since April 2015 was most probably distorted by certain difficulties editing the data around this time of the year.
In mid-September, claims reached 202,000 that happened to be the lowest outcome since December 1969. Market experts had foreseen claims slipping to about 225,000 in the latest week.
By November 24, claims surged to an eight-month maximum of 235,000.
Besides this, the best gauge of labor market trends, the four-week moving average of initial claims went down by 3,750 reaching 224,750 the previous week.
The previous week's steep slump in claims also drops a hint that a deceleration in job surge in November occurred due to worker shortages. As for nonfarm payrolls, they shot up by up to 155,000 jobs having ascended by 237,000 in October.
The week was overfilled with events, especially from the BRICS summit and Jackson Hole meeting. Altogether, the market gained some fantastic opportunities. Here’s what we have for today’s session:
A week full of impactful events is waiting for us. US CPI, PPI, and UK Interest Rate will drive the market. Let’s not waste our time and delve into the economic calendar.
Hello everyone, and welcome to Wednesday! Let's find out the most exciting and essential news for traders…
XAUUSD fell below 1900 for the first time since March 2023. Meanwhile, the US dollar index gives a bearish signal. Read the full report to learn more!
Oil prices are rising while the US government is on the verge of shutting down. How will it affect the market?
US stock markets started falling, while the US dollar is rising. What to expect from
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
Your request is accepted.
A manager will call you shortly.
Next callback request for this phone number
will be available in
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later
Don’t waste your time – keep track of how NFP affects the US dollar and profit!
|
