New US Jobless Claims Climb to 627,000
The US Labor Department said today that the number of new jobless claims for last week was higher than expected at 627,000 new applicants. Total unemployment also rose to more than 6.7 million. More
US Stock Futures Lower on Unexpected Jobless Claims Increase
Higher than expected new jobless claims for last week have cast a chill over the stock markets with the US stock-futures index dropping 0.7 percent. More
US Economy Shrinks 5.5%
The US economy contracted at a annual rate of 5.5 percent for the first quarter of the year according to the latest Gross Domestic Product figures. More
Weak Stocks, Stop-Losses Pull Down Canadian Dollar
The “loonie” as the Canadian dollar is known, lost just over half a cent to the US dollar in early morning trading in New York dropping to 86.16 US cents. Weaker commodity prices and – according to Firas Askari, head of foreign exchange trading at BMO Capital Markets – the triggering of stop-loss orders explain the drop.
“I think the Canada (dollar) just has some weak Canadian dollar longs that are getting stopped out,” Askari said in a client briefing note. More
