Focus of yesterday's session was on UK job data. For March 2016 there were 732,100 people claiming unemployment related benefits. This consisted of: 604,600 people claiming Jobseeker’s Allowance 127,500 people who were out of work and claiming Universal Credit. For March 2016 there were 732,100 people claiming unemployment related benefits. This was: 6,700 more than for February 2016 (the first increase since August 2015) and 71,500 fewer than for a year earlier. Analysts were expecting decrease by 11,600 compared with February.
The unemployment rate for those aged 16 and over for the 3 months to February 2016 was 5.1%, in line with market expectations. This was: little changed compared with September to November 2015, but down from a year earlier (5.6%) and slightly lower than the pre-downturn trough of 5.2% for late 2007 to early 2008. The last time the unemployment rate was lower than 5.1% was for August to October 2005.
In the US session Existing Home Sales figures were released. Bolstered by big gains in the Northeast and Midwest, existing-home sales bounced back in March and remained slightly up from a year ago, according to the National Association of Realtors. Total existing-home sales jumped 5.1% to a seasonally adjusted annual rate of 5.33 million in March from a downwardly revised 5.07 million in February. Sales rose in all four major regions last month and are up modestly from March 2015.
Tomorrow, from the UK, Retail Sales data will be published. Decline by 0.1% is anticipated. In the US session Unemployment Claims and Philly Fed Manufacturing Index figures will be released. Analysts predict increase to 265,00 in Unemployment Claims and fall to 8.1 points in Philly Fed Manufacturing Index.
Figures to watch:
Retail Sales (Thursday 10:30)
Unemployment Claims (Thursday 14:30)
Philly Fed Manufacturing Index (Thursday 14:30)
