This week’s report on unemployment claims by the US Department of Labor continues to show over 400,000 new unemployment claims for the past week, but the data was lower than many analysts had expected; albeit mildly.
Economists had estimated that approximately 413,000 new claims were filed in the US, but the afternoon’s reading of 405,000, coupled with weakly optimistic Core PPI and nominal Retail Sales reports, helped give some weight to the idea that the US economy is in fact still growing, but that its pace of improvement has slowed significantly.
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Greg Holden is the Chief Market Analyst at ForexYard. Greg uses his detailed knowledge of fundamental and technical analysis to provide some of the leading market forecasts in the forex world today. A guest lecturer at forex symposiums and Chief Editor of ForexYard's analysis center, Greg brings highly detailed and easy-to-use market analyses to his clientele. He has been published on ForexYard's Trading Blog and affiliate websites. Greg holds degrees in Political Science and Economics from Missouri State University, as well as a Masters degree in Middle Eastern History.
