Good claims number. Now awaiting the jobs fi…

Very quick here The initial jobless claims number released this morning of 712,000 was well below expectations for 775,000. And it was also well below last week's upwardly revised figure of 787,000. That's very good news. But it is just one week's data. And it is also data that will have been greatly affected by the Thanksgiving holiday. So, unfortunately we can't read too much into the data release. My base case is still for a double dip in the US, with rising initial claims a principal cause.

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