New low for the US unemployment claims

New low for the US unemployment claims

The US initial filings for unemployment reached a new low last week

The US Department of Labor released its weekly report on jobless claims, and the figures came in not as expected. Last week, 376,000 people filed for unemployment for the first time, topping the 370,000 forecasted. Despite surpassing the market consensus, the latest figures marked the sixth straight week when they fell to a new pandemic-era low.

However, the pent-up demand set in motion by the resumption of business operations is straining the supply chain and fans inflation pressures. Still, more than half of the States adult population has been vaccinated, allowing a broader economic re-engagement.

In a separate report, the Department of Labor revealed that the consumer price index increased 0.6% last month after a 0.8% posted in April – the most significant gain since June 2009.

The market reacted positively to the latest reports, with USA30 and USA500 climbing 0.72% and 0.68%, respectively. TECH100 edged up 0.76%, while the Dollar Index is trading 0.05% lower at 90.062.

Sources: forexfactory.com, investing.com

The information presented herein is prepared by ae.capex.com and does not intend to constitute Investment Advice. The information herein is provided as a general marketing communication for information purposes only.

Users/readers should not rely solely on the information presented herewith and should do their own research/analysis by also reading the actual underlying research. The content herewith is generic and does not take into consideration individual personal circumstances, investment experience or current financial situation.

Key Way Markets Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the information presented herein. Past performance and forecasts are not reliable indicators of future results.