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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 claims were lower than expected at a seasonally adjusted 237k (cons 250k) in the week to Jul 8, i.e. one short of a payrolls reference week, following a marginally upward revised 249k (+1k).
- It continues a volatile run but the four-week average has turned lower at 247k off a recent high of 257k.
- There doesn’t appear anything untoward in the seasonal adjustment, with the step higher from 252k to 259k in the NSA data relatively small for the time of year.
- The main increase on the week in the NSA data was led by NY (+8.2k to 26.6k), but that’s a seasonal normality.
- Continuing claims meanwhile gave back some of last week’s better than expected report, increasing to a seasonally adjusted 1729k (cons 1720k) in the week to Jul 1 from 1718k (initially 1720k).
- The level of continuing claims remains close to the 2019 average, and whilst NSA claims are higher than in 2022, they remain closer to levels for the time of year in more typical non-pandemic years.
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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