The number of initial claims for the week ending December 19 came at 803,000, down from the previous 892,000, according to the Department of Labor press release. The jobless claims were better than expected 888,000. The previous week’s initial jobless claims were revised up by 7,000 from 885,000 to 892,000Continuing claims fell to 5.3 million for the week ending … [Read more...] about U.S. Jobless Claims Defies Expectations to Close Lower at 803,000
Forex News
High Iron Ore Prices Set to fall on Easing Chinese Demand, Derivatives to Rise
Prices of iron ore are expected to fall as Chinese steel production is projected to stall next year, reports SCMP. Nonetheless, analysts are optimistic that aggressive speculation through iron ore derivative trading could correct the outcome. The projected decline in iron ore prices is also supported by non-Australia miners such as Brazil, China's second-largest source … [Read more...] about High Iron Ore Prices Set to fall on Easing Chinese Demand, Derivatives to Rise
Consumer Confidence Falls to a Four-Month Low in December
The U.S. consumer confidence fell to a four-month low of 88.6, down from a revised reading of 92.9 in November, according to The Conference Board press release. The consumer index was below expected 97 amid surging COVID-19 cases. The overall gauge of expectations rose in December, but the measure of sentiment about current conditions worsened.The consumers claiming business … [Read more...] about Consumer Confidence Falls to a Four-Month Low in December
Existing Home Sales Slows by 2.5% in November, but Remains Higher than Prior Year
U.S. existing-home sales fell to a seasonally adjusted annual rate of 6.69 million, down 2.5% from October, according to the National Association of Realtors press release. November’s existing home sales were 25.8% higher than last year but slightly below forecasted 6.7 million. The median existing-home price was $310,800, up 14.6% from November 2019, the fourth straight … [Read more...] about Existing Home Sales Slows by 2.5% in November, but Remains Higher than Prior Year
U.S. Records Increases in GDP in Third Quarter 2020
U.S. real gross domestic product (GDP) rose at an annual rate of 33.4% in the third quarter of 2020, according to the Bureau of Economic Analysis press release. The rise was an improvement from the second quarter, where real GDP fell by 31.4%. Current dollar GDP rose by 38.3% annual rate, or $1.65 trillion, in the third quarter to $21.17 trillion, up from a decline of … [Read more...] about U.S. Records Increases in GDP in Third Quarter 2020
