Source: Department of Labor US jobless claims reached 332,000 in the week that ended September 11 after a jump of 20,000 from the previous week. SPY is down -0.52%, DXY is up +0.51%. Fig: US Initial Claims The claims increase reflected devastation by Hurricane Ida which shut down production in the Gulf Coast and several other areas.The claims shed only 4,250 to reach … [Read more...] about Jobless Claims Rise by 20,000 as Hurricane Ida Complicates Labor Market Recoveries
Forex News
U.S. Retail Sales Unexpectedly Rose in August
Source: U.S. Department of Commerce. U.S. retail sales unexpectedly rose in August, likely bolstered by back-to-school shopping and child tax credit payments from the government, which could hamper expectations for sharp decline in economic growth in the third quarter. DXY up +0.51%, EUR USD down -0.53% Retail sales increased by 0.7% last month. July data was revised … [Read more...] about U.S. Retail Sales Unexpectedly Rose in August
US Manufacturing Activity Index Rose to 30.7 in September as New Orders Cooled
Source: Federal Reserve Bank of Philadelphia. The Philadelphia Fed Manufacturing Index in the US jumped to 30.7 in September of 2021 from 19.4 in August, beating forecasts of 18.8, pointing out that general activity expanded faster. DXY up +0.48%, EUR USD down -0.52% The US gauge for shipments improved, while the new orders and employment indexes cooled down slightly.The … [Read more...] about US Manufacturing Activity Index Rose to 30.7 in September as New Orders Cooled
Euro Area and EU Posts a Year over Year Decline in Trade Surplus in July
Source: Eurostat The international trade in goods in the euro area in July 2021 was 20.7 billion euros, a decline from 26.8 billion euros in the comparable month of 2020. In the EU, the trade surplus was 15.7 billion in July, down from 25.1 billion in the prior year. EURUSD is down -0.39%, DAX is up +0.53%. Fig: Euro Area’s International Trade in Goods In July, … [Read more...] about Euro Area and EU Posts a Year over Year Decline in Trade Surplus in July
Hurricane Ida Drags Industrial Production Growth to Four-Month Low in August
Source: Federal Reserve Industrial production growth slowed to a four-month low in August, dragged by the late-month shutdowns brought about by Hurricane Ida. VIS is up 0.48% Production grew 0.4% in August, slower than the 0.8% climb in August. This is the slowest in four months since April’s 0.1% growth.Ida-related shutdowns dragged the growth by an estimated 0.2%, with … [Read more...] about Hurricane Ida Drags Industrial Production Growth to Four-Month Low in August
