Initial jobless claims surged once again in the United States, highlighting the negative impact of the coronavirus outbreak and lockdown measures on the economy. The reading showed claims at 6648k! That's above the highest estimate in the Bloomberg survey and much higher than expected 3500k. Let us recall that last week jobless claims came in at 3283k (exp. 1000k). US500 dipped in a knee-jerk move but started to recover later on. USD weakened on the release.
Today's reading amounts to more or less 2% of the US population. Source: XTB Research
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