Friday, November 20, 2020

U.S. Unemployment Claims Not So Good - Markets Are Increasingly Wavering!

 The number of Americans who filed initial demands for unemployment benefits during the week has reportedly increased unexpectedly to 742,000 units. This has led to an increase in doubts that the soaring outbreak of Covid-19 will curb growth in the labor market.

On the other hand, economists have even predicted the number of unemployment claims to fall to 707,000. The previous week's figure had been reassessed at 711,000 based on the U.S. Labor report. Overall, the number of jobless claims has shown a downward trend to 6,372 million, slightly lower than economists forecast.

So far, the United States has recorded 11.6 million positive outbreaks of Covid-19 and as many as 250 million people have died. As of Wednesday last night, the U.S. Had recorded a daily case totaling 79,000 case.

Most U.S. countries have adopted new barriers and implemented social movement control measures. This case has made an impression on the commercial sector. Meanwhile, economic growth is increasingly slow because the stimulus packages offered at the beginning of the year will end.

The US dollar index, which measures the greenback against the main currency, recorded a 0.13% gain to 95,597 at 9.40 p.m because it was driven by market expectations of monetary stimulation.