US Jobless Claims rise for 2nd straight week; US GDP grew 33.10% in Q3 2020

The number of Americans filling for unemployment benefits was 0,778 million in the week ended November 21st, compared to 0.742 million in the previous week. Today’s reading came in above market expectations of 0.730 million. It is the sixth consecutive week with claims below 800k although they remain well above pre-pandemic levels.

Continuing claims readig, which lags initial jobless claims data by one week, reach  6.071 million, while analysts expected a drop to 6.02 million. Today’s reading still remain much above 1.7 million average reported before the pandemic.

 

Meanwhile revised US GDP report for Q3 2020  showed that the US economy grew  33.10%. Market expected a growth of 32.2%.
New orders for US manufactured durable goods rose 1.3 % in October, following 1.9% increase in Septemeber and above analysts’ expectations of a 0.9%.

Durable Goods Orders Excluding Transportation went up 1.3 % in October, following 0.9 % rise in September and compared to market expectations of a 0.5%.

EURUSD broke above  the 1.1890 resistance after  today's data releases and is heading towards next resistance at 1.1921 level. Source: xStation5 

 

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