The preliminary seasonally adjusted initial claims statistic for the week ending December 14 was 220,000, which was 22,000 lower than the revised amount of 242,000 for the prior week. Compared to the previous week's unrevised average of 224,250, the 4-week moving average increased by 1,250 to 225,500.
The seasonally adjusted insured unemployment rate held steady at 1.2% for the week ending December 7, unchanged from the prior week’s unrevised rate. The revised total of 1,879,000 seasonally adjusted insured unemployment claims for the previous week was reduced by 5,000 to 1,874,000 claims for the same week.
The prior week’s figure was revised downward by 7,000, from 1,886,000 to 1,879,000. The 4-week moving average for insured unemployment claims declined by 6,000 to 1,880,250, compared to the revised average of 1,886,250 from the previous week.
Source: U.S. Department of Labor
Global markets remained cautious as escalating U.S.–Iran tensions and disruptions in the Strait of Hormuz continued to fuel inflation fears and energy market volatility.
Global markets leaned toward a cautiously optimistic tone as hopes for progress in U.S.–Iran ceasefire negotiations supported risk appetite and pressured the dollar.
Dollar Weakness Persists (11 – 15 May)Global markets moved through another volatile week as investors balanced resilient US economic data against ongoing geopolitical uncertainty in the Middle East. The US dollar weakened further, falling below 98 and reaching a ten-week low despite stronger labor market figures. At the same time, fragile ceasefire conditions between the United States and Iran continued to shape energy markets, while tensions around the Strait of Hormuz remained a key source of inflation risk and market caution.
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