The U.S. Department of Labor has recently published another report on unemployment claims. Over the past week, the amount of unemployed Americans who applied for unemployment benefits reached 259 000 claims. The figures dropped down by 4000 claims over the reporting period. This led the index to a new 7-week low.
This also means that the analyst forecasts failed. The thing is that the experts interviewed by Bloomberg had expected an increase all the way up to 265 000 claims over the same reporting period. This also means that the index dropped below 300 000 claims, which has been a major level since February 2015.
Meanwhile, the total amount of Americans on unemployment benefits also decreased. Over the week that ended on August 27th, the amount dropped all the way down to 2.14 million people. That’s a 7000 decrease.
At the same time, experts say that the situation in the American labor market is favorable. This means that this situation may ell contribute to a higher pace of economic growth in the USA, which is also going to back higher employment.
FOREX
Masterforex-V Academy experts report that the US Dollar keeps on trading against other majors within the scope of a pretty wide range between 96.25 and 94.05. To be more specific, the price is now somewhere close to 95.45. The closest major levels of support are the local low of 94.05 and MF pivot 93.03. At the same time, the closest major levels of resistance are 96.25 and 96.45.
