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Higher-than-expected unemployment claims and lower-than-expected housing start figures

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Miguel A. Rodriguez
Miguel A. Rodriguez
17 September 2020
The US economy continues to be in a slump

The Department of Labor latest report showed for the second consecutive week figures that came above the estimate.

The total filings came in at 860,000 for the week ended September 12. The consensus was 825,000. However, they are lower than last week's 893,000. 

On the other hand, the number of continuing claims fell to 12.63 million, beating the 13 million expected, marking the lowest level since March. 

Alongside the Department of Labor's disappointing data came negative news from the Census Bureau regarding the numbers in housing. Multifamily housing constructions dropped 14.2%, while those for single-family surged 6%.

The markets reacted accordingly over the fact that the recovery of the labor market stalls. USA30 fell 0.9%, while USA500 lost 1.4%. TECH100 dropped 2.1%.  

Read all about last week's numbers here!

Sources: forexfactory.com, cnbc.com

This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.