- The US economy contracted an annualized -0.6% in the second quarter, following a 1.6 % contraction in the previous three-month period and matching the second revision. Today's reading confirmed that US economy entered a technical recession.
Simultaneously data from the US labour market were released.
- The number of Americans filing for unemployment benefits was 0.193 million in the week ended September 24, compared to 0.213 million reported in the previous week. Today’s reading came in well below market expectations of 0.215 million.
- Continuing claims reading, which lags initial jobless claims data by one week, dropped to 1.347 million from 1.379 million, while analysts expected an increase to 1.388 million.
EURUSD pulled back to support at 0.9700 following today's data releases.Source:xStation5
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile appThis content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
