- The US economy contracted by an annualized 1.5% in the first quarter, following a 6.9 % expansion in the previous three-month period, slightly above analysts’ estimate of 1.3% decline, the second revision showed.
- The number of Americans filling for unemployment benefits was 0.210 million in the week ended May 14, compared to 0.218 million reported in the previous week. Today’s reading came in below market expectations of 0.215 million.
- Continuing claims reading, which lags initial jobless claims data by one week, jumped to 1.346 million from 1.317 million, while analysts expected decrease to 1.310 million.
EURUSD saw relatively small reaction to today’s data inflation release. The most popular currency pair continued to trade around 1.0700 level. Source: xStation5
