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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 surprised lower for the second consecutive week with a seasonally adjusted 227k (cons 235k) in the week to Aug 10 after a marginally upward revised 234k (initial 233k).
- The four-week moving average dropped from 241k to 237k as the first week of the initial Beryl boost drops out, after the 241k had been the highest since Aug 2023.
- Within the NSA data, there were no major drivers behind -4.5k weekly change. California the largest at -2.2k, then Texas (-1.4k). The latter continues to correct from its Beryl spike and at 18.5k sees another step closer to the ~15k typically seen at this time of year.
- Continuing claims also surprised lower at a seasonally adjusted 1864k (cons 1870k) in the week to Aug 3 after a downward revised 1871k (initial 1875k). To be clear though this is only a small dip after what had been the highest since Nov 2021.
- The NSA continuing claims data continue to paint a very similar picture to recent weeks, i.e. tracking right at the top of typical ranges in the three years prior to the pandemic but they haven’t shown a marked increase against that relative basis for more than a month now.
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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