020 7898 0500The main release in the US yesterday was initial jobless claims to 2 June 2018. From 223,000 in the previous period, they were expected to nudge a little higher to 225,000, but they actually came in at 222,000.
The US has been posting a long series of positive employment data and one wonders how long this will continue. It will also be interesting to see how the recent tariffs Trump imposed on steel and aluminium imports will affect the plethora of industries in America that rely on those imports. It is likely that any rise in costs will ultimately be passed onto the consumer.
Despite the positive release, the dollar found itself sliding against sterling and the euro, although the losses weren’t too significant. Today is quiet for economic data in the US, but Trump might Tweet something or other.
