PREVIOUS TRADING DAY EVENTS 30 March 2023

Announcements 

The U.S. Unemployment Claims figure in the week ending 25 March, the figure reported being 198,000, an increase of 7,000 from the previous week. The 4week moving average was 198,250. This Claim figure includes people who have received unemployment benefits for a week or more and is a good indicator of how hard it is for people to find work after losing their job.

The report overall presents a U.S. labour market thats shown strength even with interest rate hikes being applied all year by the Federal Reserve FED. It is still uncertain how the next moves of the FED will be and how the U.S. economy was affected by the crisis since stocks are raining and PMIs are showing growth.
Source httpswww.dol.govsitesdolgovfilesOPAnewsreleasesuiclaims20230611.pdf

President and CEO of the Federal Reserve Bank of Minneapolis, Neel Kashkari, who serves as a voting member on the Federal Open Market Committee FOMC said at a town hall event that the FED will have to do a lot more in order to reach the 2 inflation target. He believes interest rates will need to rise aggressively to put a ceiling on inflation, then let monetary policy work its way through the economy. The concerning sector is the services sector, he said.

He noted also that so far the rising interest rates by the FED had a desirable impact the housing market has slowed, goods prices have fallen and new leases are less expensive. The FED, he mentioned, is…