Over the past few weeks, the unemployment claims indicator from the United States has shown a steady downturn in the number of people filing for unemployment benefits. This week, however, news has turned for the worse as the report underscored a sudden sharp increase in unemployment claims.
Released weekly by the US Department of Labor, the report was expected to reveal a small uptick from last week’s 399,000 claims to 402,000 claims. The actual report came in at 408,000 unemployment claims, marking a wide upswing since a month ago. How this will be priced in is still unfolding. So far, the dollar looks to be gaining value from a turn towards safety among investors.
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