US Weekly Jobless Claims Remain High
The number of Americans filing for unemployment benefits rose by 860 thousand in the week ended September 12th, compared to 893 thousand in the previous period and above market expectations of 850 thousand. It was the third consecutive week with claims below 1 million, but the number remained well above 665 thousand filed at the peak of the Great Recession in March 2009, suggesting the labor market recovery stalled amid a spike in COVID-19 cases.
European Equities Rise on COVID-19 Vaccine Hopes
Major bourses in Europe traded higher on Monday as Astrazeneca coronavirus vaccine trials resumed in the UK after the British authorities gave their approval. In addition, news that American Nvidia will buy the UK-based computer chip designer ARM Holdings from Softbank for $40 billion improved investors’ sentiment. Traders also await monetary policy decisions in the US, Japan and the UK later in the week.
Finally got out of EUR/USD long.