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Unemployment Claims rose to 260,000

Friday, Oct 21 2016
Unemployment Claims rose to 260,000

In the week ending October 15, the advance figure for seasonally adjusted initial claims was 260,000, an increase of 13,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 246,000 to 247,000. The previous week's average was revised up by 250 from 249,250 to 249,500. There were no special factors impacting this week's initial claims. This marks 85 consecutive weeks of initial claims below 300,000, the longest streak since 1970.

Separate report on Philly Fed Manufacturing Index showed that the index for current manufacturing activity in the region edged down, from a reading of 12.8 in September to 9.7 this month. The index has now been positive for three consecutive months. The percentage of firms reporting increases in new orders this month rose to 40 percent from 30 percent last month. The current shipments index also improved, rising 24 points to 15.3. The delivery times, unfilled orders, and inventories indexes remained weak, however, with all registering negative readings, although they were less negative than in September.

 

Euro is currently being traded around 1.0950 area, Sterling is at 1.2240 level and Aussie is 0.7650 handle.

More in this category: « ECB leaves open door for more stimulus French Manufacturing PMI up above 50 level »

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