Jump in claims is highest since August last year, indicating a cooling labor market and presenting an upside risk to the Fed’s forecast of maintaining unemployment at 4%.
Soft PPI figures increase likelihood of a second consecutive 0.2% or lower MM rise for PCE.
Combination of rising claims and soft PPI reinforces argument for cuts to start in September
This article was written by Arno V Venter at www.forexlive.com.
