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US: Initial jobless claims and Chicago PMI at the forefront – Nomura

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 31, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Delhi) - Research Team at Nomura, suggests that the Chicago PMI and the initial jobless claims are going to be the focus for the week.

    Key Quotes

    “The Chicago PMI report, along with other regional business surveys for November, suggests that activity in the industrial sector remained weak in Q4. The new orders index within this report fell over 15pts in November to an eight-month low and the orders backlogs index remained in contraction territory. Manufacturing surveys released thus far for December have remained negative, suggesting that activity remains tepid. Taken together, we expect a reading of 50.0 on the Chicago PMI in December (Consensus: 50.0, previous: 48.7).”

    “Initial jobless claims have been below 300k since the last week of February of this year and have stayed well below prerecession levels. Similarly, continuing claims are hovering at low levels. Taken together with strong job growth in 2015, the labor market appears to be inching closer to full employment. Consensus forecasts that there were270k jobless claims for the week ending 26 December (previous: 267k).”
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