Unemployment Claims

Unemployment claims rates determine the amount of individuals claiming unemployment insurance for the first time during the past week. This weekly indicator provides very temporary data, but traders view unemployment as a lagging indicator that gives little indication of the future performance of the economy. The downward trend has a positive effect on the country's currency, as workers tend to spend more money, and consumption makes up a large portion of GDP.
The number of Americans filing for unemployment benefits fell by 24,000 to 209,000 in the week ending November 18, a sharp decline from a three-month high the previous week and well below market expectations of 225,000. Meanwhile, continuing claims fell by 22,000 to 1,840,000 in the previous week, down from the two-year high recorded in the previous report. The result suggests that the slowdown in the labor market has not yet fully materialized, allowing the Fed the flexibility to keep interest rates at constrained levels. The four-week moving average, which removes week-to-week fluctuations, fell by 750 to 220,000. Meanwhile, the number of non-seasonally adjusted claims rose by 21,239 to 238,677, with an increase in California (7,911) and significant increases in Oregon (2,305) and Kentucky (1,940).

Expectations for today's statement and how it will affect the currency

The expected result for today's statement is 219 thousand
If the current statement releases a result higher than expected, it will negatively affect the currency and vice versa

Timing of issuance of the statement

The report will be issued at 3:30 pm Mecca time