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Unexpected rise in the number of Unemployment Claims

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Miguel A. Rodriguez
Miguel A. Rodriguez
08 April 2021
Higher-than-expected jobless claims in the first week of April

Last week, first-time unemployment claims rose more than expected, despite the signs of an economic recovery, as data from the US Department of Labor showed.

In the past week, 744K people filed for unemployment insurance, well above the 682K forecasted.

The figures came a week after the labor market showed signs of a strong recovery, with 916K new jobs created in March and an unemployment rate of 6%.

Despite the progress, the Federal Reserve lawmakers stated that the market needs much more improvement to recover from the COVID-19 pandemic. Moreover, according to its meeting minutes, the bank is keeping its monetary policy unchanged.

Following the news, the Dollar driven assets traded in a mixed manner.

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.