US: Philly Fed survey and jobless claims in the limelight - Nomura

Sandeep Kanihama FXStreet Contributor

Analysts at Nomura suggest that with the US unemployment rate at 3.8%, the lowest level since the 1960s, they expect initial jobless claims to remain low as firms face increased competition for workers.

Key Quotes

“Ongoing declines in initial and continuing claims seem to support our expectation of continued declines in the unemployment rate in 2018.”

“Philly Fed survey: We expect the Philly Fed manufacturing survey in June to retreat somewhat following a substantial jump in May. We forecast a reading of 29.0 for June, 5.4pp below the reading of 34.4 in May. While we think manufacturing activity continued to accelerate in June, increased uncertainty over US trade policy likely weighed on business sentiment.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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