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Initial claims for unemployment benefits drop to 787,000, minimum in five weeks

The U.S. Department of Labor reported that initial weekly jobless claims they fell by 3,000 in the week ended Jan. 2 to 787,000, the lowest level in five weeks. The market consensus was for an increase to 800,000

Regarding the continued orders, fell by 126,000 to 5,072,000 in the week ended December 26, marking a new low since March, when the effects of the coronavirus began to be felt. The figure was better than expected, which was due to a slight increase to 5.2 million.

Despite the better-than-expected data, the figures are still high in historical comparisons. On Wednesday ADP’s employment report showed figures below expectations. It was the first negative reading since April, which raised doubts ahead of the publication on Friday of the December official report. The market consensus is that the unemployment rate will rise from 6.7% to 6.8% and that the nonfarm payrolls have increased by 71,000.

He dollar it was relatively flat after the data, validating modest gains on Thursday. The DXY failed to break above 90.00 and is hovering around 89.75, in positive territory for the day, moving away from the two-year lows to which it fell on Wednesday.

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