The number of Americans filling for unemployment benefits was 0.709 million in the week ended November 6th, compared to 0.751 million in the previous week. Today’s reading came in below market expectations of 0.735 million. It is the fourth consecutive week with claims below 800k. However today’s reading still remains far above 665,000 filed at the peak of the Great Recession in March 2009.
Continuing claims reading, which lags initial jobless claims data by one week, reach 6.786 million, while analysts expected a drop to 6.9 million. Today’s reading still remain much above 1.7 million average reported before the pandemic.
Continuing claims dropped to 6.786 million from 7.3 million in the October 30th week, the lowest level since March. Source: Macrobond, XTBAnnual inflation rate in the US declined to 1.2% in October from 1.4% in September, below analysts’ expectations of 1.3%.
The US core consumer price inflation rate, excluding food and energy decreased to 1.6% year-on-year in October from 1.7% in the previous month, below market consensus of 1.8 %.
EURUSD saw relatively small reaction to today’s data releases. The most popular currency pair continued to trade around 1.1800 level. Source: xStation5
