- Initial claims for unemployment benefits fall to 225,000 against the 235,000 expected.
- Continuing orders rise for the seventh week in a row, to new highs since March.
- The dollar falls after the report of personal income and spending.
The Department of Labor reported that the initial claims for unemployment benefits fell by 16,000 in the week ending November 26 to 225,000, better than the 235,000 market consensus.
The continued orders unemployment benefit increased by 57,000 in the week ending November 19 to 1,608,000, above the 1,573,000 expected. This is the seventh consecutive rise and the highest reading since March of this year.
At the same time, there was a drop in the underlying price index for personal consumption spending, which favored an extension of the drop in the dollar. Later on Thursday the ISM Manufacturing index and construction spending will be released. Friday will continue the jobs data saga with non-farm payrolls and the unemployment rate.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
