Free Trial
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
- Weekly jobless claims data were about as in line with expectations as possible.
- Initial jobless claims were as expected with a seasonally adjusted 232k (cons 232k) in the week to Aug 17 – a payrolls reference period – after a marginally upward revised 228k (initial 227k).
- The four-week moving average stands at 236k and as we noted earlier that’s now no longer counting the peak boost from Hurricane Beryl. Considering it’ll still be biased slightly higher, it compares well with the 234k for the four-week average seen pre-hurricane, implying no sign of labor deterioration.
- NSA initial claims fell 9.3k on the week. Largest state drivers were familiar with Michigan (-2.8k) in potentially some of the last disruption from seasonal adjustment trying to capture different timing of summer auto plant shutdowns. Texas (-2.1k) to 16.4k is back close to the ~15k typically seen at this time of year after prior hurricane disruption.
- Continuing claims were slightly lower than expected at a seasonally adjusted 1863k (cons 1870k) in the week to Aug 10 after a downward revised 1859k (initial 1864k). Whilst a surprise lower, they continue to stand close to the 1871k from two weeks prior that marked 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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok