US data: Initial applications for unemployment benefits and production activity
- The number of initial applications for unemployment benefits in the US is 222K, the forecast is 215K.
- The index of manufacturing activity from the Federal Reserve Bank of Philadelphia (USA) is 34.4, the forecast is 21.0.
Business activity in the US manufacturing sector remains within the existing trend. The slowdown in American growth was caused by data on the number of applications for unemployment benefits, which unexpectedly increased, thereby slowing the downward trend. At the same time, this indicator is not critical and is invested in general statistics, which in the end will have a short-term deterrent effect on the American.
The US dollar index against the basket of major currencies, in turn, managed to update the high of the day and gain a foothold above the level of 93.40, which in the end indicates the possibility of further growth of the American, but is limited to the level of 93.60.
Graph of the US dollar index. The current price is 93.40 (the yield of 10-year government bonds is a blue line)
Andre Green