Tag: unemployment

Data Flash: US Initial Claims Spike, Backlogs to Maintain Flow

Initial Claims Double from Previous Week to Record 6.648 Mln Continuing layoffs and administrative backlogs will lift initial claims to new record highs for the next several weeks before the flow of new filings finally slow. This week, the level of new claims was double last week’s, adding to the overall number receiving benefits. The […]

Fed’s Rosengren: Unemployment to Rise “Dramatically”

The Federal Reserve is working to limit economic fallout from the pandemic and promote recovery, but unemployment is surging, and fiscal policy is “crucial,” Eric Rosengren, president of the Federal Reserve Bank of Boston, said Wednesday. “The Federal Reserve is working to limit the financial and economic distress – to take actions that help avoid […]

Five on Friday: What Happened in Markets This Week

Lizzy Birmingham provides a brief roundup of the major FX moves this week, and the drivers behind each. 1) SNB Upholds Ultra-Loose Policy The Swiss franc was up 0.2% to 1.12127 per euro on Thursday following Swiss National Bank (SNB) president, Thomas Jordan’s, announcement to maintain loose monetary policy. In an interview with Bloomberg, Jordan […]