The Department of Labor reported that Initial claims for unemployment benefits dropped by 48,000 in the week ending November 7 up to 709,000, by below the 735,000 of the market consensus.
Regarding the continued orders, fell by 436,000 to 6,786,000 in the week of October 31, a number also lower than what the market expected. It is the seventh consecutive weekly decline.
Both continuing and initial orders fell to lowest levels since late March, although they are still significantly above the levels they had before the pandemic.
The dollar was not affected by the reports. Inflation data was also released at the same time.
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Credits: Forex Street
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