News

The British Pound (GBP) edges higher against the US Dollar (USD) on Wednesday as markets digest the United Kingdom’s Autumn Budget, with traders weighing fresh fiscal measures and updated economic projections.

S&P 500 duly tanked on poor incoming data showing consumer under (spending) stress, and overal not tame PPI inflation – for two hours.

United States Continuing Jobless Claims: 1.96M (November 14) vs previous 1.974M

United States Durable Goods Orders ex Transportation registered at 0.6% above expectations (0.2%) in September

United States Durable Goods Orders registered at 0.5% above expectations (0.3%) in September

United States Initial Jobless Claims below expectations (225K) in November 21: Actual (216K)

• Prior month (August 2.9% revised to 3.0%)
• Durable goods orders for September 0.5% vs 0.3% expected.
• Durable goods orders ex Transport 0.6% vs 0.2% expected. The prior of 0.3% revised to 0.5%
• Durable goods ex defense 0.1% vs 1.9% last month
• Non-Defense capital goods ex air 0.9% vs 0.2% expected. Prior month 0.4% revised to 0.9%

The data comes in stronger than expected with higher revisions. The initial jobs claims were also better than expected. The initial jobs claims more recent than the durable goods orders.

The general expectations is that the growth will have slowed because of the shutdown, but any slowdown would be recovered .

This article was written by Greg Michalowski at investinglive.com.

United States Durable Goods Orders ex Defense came in at 0.1% below forecasts (1.9%) in September

• Prior 220K (revised to 222K)
• Continuing claims 1960K vs 1969K expected
• Prior 1974K (revised to 1953K)

Jobless claims continue to point to a “low firing, low hiring” labour market. The data is not going to change anything for the Fed at this point though with the probabilities for a December cut now standing around 79%.

This article was written by Giuseppe Dellamotta at investinglive.com.

United States Initial Jobless Claims 4-week average declined to 223.75K in November 21 from previous 224.25K