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Unemployment Claims dropped to 253,000

Thursday, Jul 21 2016
The number of applications for U.S. unemployment benefits unexpectedly fell last week, reaching a three-month low, indicating the labor market remains steady. Initial jobless claims dropped by 1,000 to 253,000 in the week ended July 16, from an unrevised 254,000 in the prior period, a report from the Labor Department showed Thursday in Washington. The median forecast of 44 economists surveyed by Bloomberg called for 265,000. Continuing claims decreased.
Separate report on Philly Fed Manufacturing Index showed that the index of current activity, fell from 4.7 in June to -2.9 this month. For nine of the past 11 months, this diffusion index has been negative. Twenty-two percent of the firms reported an increase in activity, 3 points lower than last month, and the percent of firms that reported decreases rose from 20 to 25. Fifty-one percent of the firms reported steady activity this month, similar to the share that reported steady activity last month.
 
Euro is currently being traded few points above 1.1010 area, Sterling is at 1.32 level, while Aussie is around 0.75 level.
More in this category: « ECB left interest rates unchanged French Manufacturing PMI rose, but remains below 50.0 level »

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