Thursday 26 August 2010

Jobless Claims Improve

This week’s jobless claims figure came in better than consensus and better than last weeks. The figure reported was 473k, this compares with last weeks figure which was revised from 500k to 504k today. The 473k figure is better than consensus expectations of 488k. This news is well received by the bulls as in the past six weeks this is the only week the actual figure has beaten consensus. Today figure also breaks the past four weeks rising trend for this number. This improvement in jobless claims helps the outlook for next Fridays Non-farm payrolls data which was shaping up to look quite bearish.

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