U.S. job openings at 6.2 million

The number of job openings was little changed at 6.2 million on the last business day of July, the U.S. Bureau of Labor Statistics reported today. Over the month, hires and separations were also little changed at 5.5 million and 5.3 million, respectively. Within separations, the quits rate and the layoffs and discharges rate were little changed at 2.2 percent and 1.2 percent, respectively. This release includes estimates of the number and rate of job openings, hires, and separations for the nonfarm sector by industry and by four geographic regions.

Economic cost of Hurricane Irma 'could reach $300bn'

The economic cost of Hurricane Irma could rise as high as $300bn (£227bn) as the storm lashes Florida, damaging homes, businesses and key crops including orange groves.  Analysts said about $2tn of property lay in the storm’s path, and also pointed to the potential impact on US food prices. Florida is the second-largest produce grower in the US and the world’s second-largest producer of orange juice.

USD - Major events in the week ahead

Events that marked the week:

On Wednesday Trade Balance and ISM Non-Manufacturing PMI data was published. The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that the goods and services deficit was $43.7 billion in July, up $0.1 billion from $43.5 billion in June, revised. July exports were $194.4 billion, $0.6 billion less than June exports. July imports were $238.1 billion, $0.4 billion less than June imports.

Unemployment Claims increased to 298,000

U.S. jobless claims surged last week by the most since November 2012 as tens of thousands of Texans displaced by Hurricane Harvey filed applications to collect benefits, according to Labor Department figures Thursday. Initial jobless claims increased by 62k to seasonally adjusted 298,000. Applications filed in Texas surged by an unadjusted 51,637 from the previous week to 63,742. Continuing claims in U.S. fell by 5k to 1.94m in week ended Aug. 26.