Bank of America Merrill Lynch expects the US initial jobless claims or the number of new jobless claims for unemployment benefits filed by unemployed individuals with state unemployment agencies, are likely to spike to 3 million this week, having risen to 281,000 last week, as noted by Bloomberg financial journalist Tracy Alloway.
Most investment banks expect the US economy to suffer an unprecedented economic contraction in the second quarter and a sharp rise in the unemployment rate.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.