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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
US DATA
- Initial jobless claims were close to expected in the week to Oct 21 at a seasonally adjusted 210k (cons 207k) after a marginally upward revised 200k after an initial 198k had marked the first sub-200k week since January.
- The four-week average ticks up just 2k to 208k, itself holding between 205-210k for a month now at levels last seen in early February.
- Continuing claims provided the main dovish point though, surprisingly jumping to a seasonally adjusted 1790k in the week to Oct 14 (cons 1740k) after a decent increase to 1727k (initial 1734k) the week prior.
- It sees continuing claims further above the 2019 average of 1699k and back at May levels.
- At first glance, it’s possible that we’re no longer seeing what appeared a particularly favorable seasonal adjustment in recent weeks/months. The 37k increase in the NSA data is on the higher side compared to increases at this time of year in 'normal' pre-pandemic periods but doesn’t look to warrant the 63k increase in the SA data.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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