Initial claims for unemployment benefits fall more than expected to 751,000, the lowest level since March

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The Unemployment benefit requests report showed a drop in both initial and continued requests to the lowest levels since the end of March, when the impacts of the crisis generated by the coronavirus began to be felt.

The Department of Labor reported that orders initials unemployment benefit they were down 40,000 in the week ending Oct. 24 to 751,000, when average analyst estimates were for a reading of 775,000.

For their part continued orders recorded the sixth consecutive weekly decline, settling at 7,756,000 in the week ended October 17, a drop of 709,000 from the previous one, although above the market consensus of 7.7 million.

The data was released along with GDP growth for the third quarter, which showed a slightly higher rebound than expected. He dollar There were significant variations after the economic figures and continued with a bullish moment, supported by the fall in the stock markets.

Later, it will be the turn of the September existing home sales report. In addition, at 12:45 GMT the European Central Bank will announce its decision and at 13:30 GMT, President Christine Lagarde will give a press conference.

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Credits: Forex Street

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