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USD: US labour market remains strong as unemployment falls

By Smart Currency May 5th, 2017

Some good news for the US as figures released showed that just 238,000 people applied for unemployment benefit last week, down from 257,000. It seems the US labour market remains strong but we await today’s key US non-farm payroll figures to confirm this is correct.

Meanwhile, oil prices hit their lowest level since December 2016, after figures showed that US oil inventories were higher than expected. While stocks have steadily declined for the past four weeks, they are still at some of the highest levels.

Finally, Republicans claimed they had enough votes to repeal and replace Obamacare, which led to caution as traders awaited another vote in Congress, who duly voted to replace Obamacare. If passed by the Senate, it will prove one of the few defining ones of Trump’s presidency, especially given how quiet his first 100 days have been (in terms of legislative victories).

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