MAS likely to adopt further easing to a neutral policy by next policy review in April 2020, says ANZ Research
Australia’s ANZ-Roy Morgan consumer confidence registers second straight weekly loss, inflation expectations stable
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U.K. headline inflation remains unchanged at 1.7 pct in September, likely to stay below 2 pct in near-term
U.S. housing starts likely to have slowed slightly in September, residential construction to boost growth in Q3
China’s CPI-PPI divergence widens to 4.2ppt y/y in September, shows negative correlation after 2016: ANZ Research
U.S. initial jobless claims fall significantly in early December
U.S. initial jobless claims dropped significantly in early December. For the week ended 8 December, initial jobless claims dropped to 206k from 233k. The fall of 27k is the largest since April 2015. Claims had risen in previous weeks, moving in the range of 225k-235k, which is believed to be driven by a combination of factors such as financial market stress and worries over protectionism, noted Barclays in a research report.
The job-separation rate is expected to eventually start to move to its pre-stimulus levels as the waning impulse from fiscal stimulus decelerates the rate of hiring. Nevertheless, even at around 230k, claims data continue to be in line with strong labor markets. It is to be seen whether claims at today’s level would be sustained.
State wise, a majority of the states recorded a decline in claims, led by Pennsylvania, Texas, California and Illinois. Meanwhile, continuing claims for the week ended 1 December rose to 1.661 million from 1.636 million, and the insured jobless rate held stable at 1.2 percent.
At 15:00 GMT the FxWirePro's Hourly Strength Index of US Dollar was slightly bullish at 55.6552. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex