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American weekly jobless claims show the lowest result since 1969
The previous week, the number of US citizens who filed applications for unemployment benefits headed south to a 49-1/2-year minimum, thus indicating sustained labor market strength, which could tame expectations of a steep deceleration in the economic surge.
As a matter of fact, initial claims for state unemployment benefits inched down 8,000 to a seasonally updated 196,000 by April 6 that appears to be the lowest outcome since October 1969. Apparently, claims have slipped for four weeks in a row. As for data for the previous week, it was updated to reveal extra 2,000 applications.
Market experts had foreseen claims would jump to 211,000 for the last week. As the Labor Department informed, no states were assessed the previous week.
The four-week moving average of initial claims, a gauge of labor market trends, headed south 7,000 the previous week hitting 207,000, which appears to be the lowest result since early December 1969.
Eventually, the labor market happens to be the key pillar of support for the US economy that turns out to have lost momentum in the first quarter due to the fact the stimulus from a $1.5 trillion tax trim package recedes and a trade conflict between America and China as well as softening global demand affected exports.
As for nonfarm payrolls, they inched up by 196,000 jobs in March, which is above the 100,000 required per month to keep up with surge in the working-age population. Additionally, the unemployment rate accounts for 3.8%, which is close to the 3.7% Fed policy makers project by the end of 2019.
Good day for all traders out there! We prepared a gold analysis and a bunch of other news for you to enjoy! Here's what you should know:
Last week was very interesting for the markets, as we saw the releases of the US Inflation and Disney’s earnings report. So let's see what we should await this week!
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.