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  • US Unemployment Insurance Weekly Claims Report

    From dol.gov Story is in PDF Format

    In the week ending June 1, the advance figure for seasonally adjusted initial claims was 229,000, an increase of 8,000 from the previous week's revised level. The previous week's level was revised up by 2,000 from 219,000 to 221,000. The 4-week moving average was 222,250, a decrease of 750 from the previous week's revised average. The previous week's average was revised up by 500 from 222,500 to 223,000. The advance seasonally adjusted insured unemployment rate was 1.2 percent for the week ending May 25, unchanged from the previous week's unrevised rate. The advance number for seasonally adjusted insured unemployment ... (full story)

Added at 8:54am

  • US weekly jobless claims rise in latest week

    From businesstimes.com.sg

    The number of Americans filing new claims for unemployment benefits increased last week, but underlying strength in the labour market should continue to support the economy. Initial claims for state unemployment benefits rose 8,000 to a seasonally adjusted 229,000 for the week ended June 1, the Labor Department said on Thursday (Jun 6). Economists polled by Reuters had forecast 220,000 claims in the latest week. The so-called continuing claims tracking those who collect benefits beyond the first week increased 2,000 to a seasonally adjusted 1.792 million during the week ending May 25, the claims report said. The ... (full story)

I think we have US going into hard landing, pretty bad numbers 2 months in a row now
Cooling US data will gain Gold further again. Gold has more room to rise
usd shall dominate despite the soft data.
https://my.hfm.com/en/hfcopy/provider-details.html?provider=78024851
Quoting Mafia
usd shall dominate despite the soft data.
Can you explain why?
The increase in weekly unemployment benefit applications is a phenomenon with multiple aspects. From a social and public policy perspective, it can reflect the effectiveness of support systems and the ability of the labor market to adapt. However, from an economic perspective, it may be indicative of underlying problems that require attention and action by economic policy makers.
Quoting Mafia
usd shall dominate despite the soft data.
Certain traders think that because they hold their emotion
Quoting Atef3
{quote} Can you explain why?
Because US economy is performing better as compared to other economies of the world.
https://my.hfm.com/en/hfcopy/provider-details.html?provider=78024851
Quoting Mafia
{quote} Because US economy is performing better as compared to other economies of the world.
Do you follow past data always?
Quoting Ftmofx
{quote} Do you follow past data always?
It ain't so bad, I think the DXY is going to rise to 110 very soon, and will ease after that with the subsequent rate cuts.
  •  Guest
  • | IP XX.XXX.125.78
Instead of looking at some economist's charts , I look at what is happening in the real world. In my neck of the USA, we get a weekly shopper newspaper, that is business ads and employment ads. For the past 5 yrs there have been 7-8 pages of job openings posted, usually 80% factory/production jobs and 20% truck driving jobs. This week , there are 2 pages of jobs. A local hardwood lumber mill, with factories in 3 states, have been hiring since COVID in 2020, with a $1500 bonus to new employees. They have stopped hiring. Our strong economy is turning south very quickly. (IMO)
Quoting Guest
Instead of looking at some economist's charts , I look at what is happening in the real world. In my neck of the USA, we get a weekly shopper newspaper, that is business ads and employment ads. For the past 5 yrs there have been 7-8 pages of job openings posted, usually 80% factory/production jobs and 20% truck driving jobs. This week , there are 2 pages of jobs. A local hardwood lumber mill, with factories in 3 states, have been hiring since COVID in 2020, with a $1500 bonus to new employees. They have stopped hiring. Our strong economy is turning...
if US economy collapse then it will be the worst recession globally uglier than 2008 imo.
https://my.hfm.com/en/hfcopy/provider-details.html?provider=78024851
You naysayers act like this print is indicative of the end of the world or something. The numbers are so tight that this is negligible.

The 4-week moving average actually shows a 750 person DECREASE in unemployment.

What does that mean? Nothing is really changing.

Mafia is closest to correct so far: the US economy is performing better than other countries.

MatTrader: I give you the right to come back and tell me I am wrong if the US goes into a hard landing.....but it won't be from such benign figures as those released today. If unemployment pops but by 50k in one week or the 4-week average starts to increase by tens of thousands, then you can tout hard landing claims.

A softening in the labor market is needed to bring rates down....so we should all be happy to see numbers that support what the FED has been looking to achieve.

......unless, I guess, traders with the viewpoint are long the dollar and want to see rates unexpectedly skyrocket, crashing the equity markets and causing another depression.
DXY will Sell hard!
Quoting GuninShadow
DXY will Sell hard!
I will quit trading if that really happens!
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    ECB Governing Council Press Conference - 6 June 2024

    From ecb.europa.eu|Jun 6, 2024|1 comment

    ECB President Christine Lagarde explains the Governing Council's monetary policy decisions and will answer questions from journalists at the Governing Council press conference to ...

    Lagarde: Economy to continue to recover; Manufacturing showing signs of stabilization; Surveys...

    From @C_Barraud|Jun 6, 2024

    post: *LAGARDE: ECONOMY TO CONTINUE TO RECOVER - BBG *LAGARDE: MANUFACTURING SHOWING SIGNS OF STABILIZATION *LAGARDE: SURVEYS POINT TO CONTINUED JOB GROWTH IN NEAR TERM post: *LAGARDE: DOMESTIC INFLATION REMAINS HIGH - BBG *LAGARDE: WAGES RISING AT ELEVATED PACE *LAGARDE: LABOR COSTS WILL LIKELY FLUCTUATE DUE TO ONE-OFFS *LAGARDE: WAGE GROWTH WILL MODERATE OVER COURSE OF YEAR *LAGARDE: PROFITS ABSORBING PART OF WAGE INCREASES post: ECB’S LAGARDE: INFLATION TO FLUCTUATE AROUND CURRENT LEVELS FOR REST OF YEAR ECB’S LAGARDE: INFLATION WILL THEN DECLINE TOWARDS TARGET IN 2H25 ECB’S LAGARDE: RISKS TO GROWTH BALANCED IN NEAR TERM

    Lagarde: Wouldn't say ECB is moving in dialing-back phase

    From @NourHammoury|Jun 6, 2024|1 comment

    post: *LAGARDE: WOULDN'T SAY ECB IS MOVING IN DIALING-BACK PHASE post: ECB'S PRESIDENT LAGARDE: WE WILL NEED MORE DATA TO CONSTANTLY CONFIRM DISINFLATIONARY PATH. post: ECB'S PRESIDENT LAGARDE: WE'RE MORE RESTRICTIVE IN REAL TERMS THAN BACK IN SEPTEMBER. post: MORE ECB'S LAGARDE: I CANNOT CONFIRM THE THE 'DIALING BACK' PROCESS IS UNDERWAY, BUT THERE IS A 'STRONG LIKELIHOOD' THAT IT IS UNDERWAY #ecb #europeancentralbank #interestrates #inflation #eurozone #monetarypolicy #christinelagarde post: <EUR=>:*LAGARDE: SPEED, TIMING WILL BE DETERMINED BY DATA ?*LAGARDE: NEXT FEW MONTHS WILL BE BUMPY

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