020 7898 0500It wasn’t quite the record low some were expecting, but initial jobless claims in the US still hit an impressive figure in the week up to 13 October 2018. The number of
Americans filing for unemployment benefit dropped to 210,000 from an upwardly revised 215,000 the previous week. It was better than the 212,000 the markets had been expecting
and the number of Americans receiving jobless support for more than one week (known as the continuing claims figure) hit its lowest mark since August 1973.
The dollar enjoyed another positive day against sterling, although this was more down to the pound’s weakness rather than dollar strength. It traded within a very tight range
against the euro throughout the day. There could be further moves today, especially if the government infighting over Brexit continues in the UK.
Today we will see existing home sales which are expected to fall by the tiniest amount.
For more on currencies and currency risk management strategies, please get in touch with your Smart Currency Business trader on 020 7898 0500 or your Private Client trader on
020 7898 0541.
