USD: Labor data supports resilience – TD Securities
|TD Securities reports that United States labor market data surprised slightly on the positive side, with initial jobless claims below expectations and continuing claims near consensus. This reinforces a picture of a still-resilient US economy. The backdrop of firm labor data may help underpin the Dollar as markets assess Federal Reserve communication.
Jobless claims beat expectations
"Rates moved higher on Thursday, moving higher with oil prices. Initial jobless claims came in below expectations at 207k, while continuing claims printing near-consensus at 1.818mn."
"Fed's Williams spoke, saying that a longer shock could cause a stagflationary impact. The Senate banking panel Democrats issued a statement that the Warsh hearing should be delayed, waiting for ongoing probes to be dropped."
"On Friday, no data is on the schedule, with only Daly, Barkin and Waller set to speak ahead of the Fed's blackout period which starts at midnight."
"Markets will remain focused on news coming from the Middle East as we head into the weekend."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
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