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With FOMC Next Week, Weekly Jobless Claims Take on Bigger Role

Posted by WorldWideMarkets . on Sep 12, 2013 3:49:00 AM
The last weekly initial jobless claims report in the U.S. could cause a little volatility at the New York open. After investors mostly ignored this indicator for years it has suddenly become important given the Fed’s focus on jobs growth and the unemployment rate. Indeed, some investors were caught by surprise a few weeks ago when it fell unexpectedly and the dollar rallied. As this is the last report before the two-day Fed meeting next week with the wide expectation that the Fed is going to begin to taper down its stimulus program, it will prompt some investors to adjust positions if too far from the consensus expectations. The weekly initial jobless claims are expected to print at 330,000 with continued jobless claims at 2.96 million. trading initial weekly jobless claims

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