The Weekly Wrap – Talk of Lockdowns and Economic Data Delivered Dollar Support


Out of the U.S

Through the 1st half of the week, retail sales figures impressed, in spite of the marked pickup in inflationary pressure.

In October, core retail sales rose by 1.7%, with retail sales also up 1.7%. Retail sales had risen by 0.5% in September, with core retail sales having risen by 0.70%.

On Thursday, Philly FED Manufacturing PMI figures and the weekly jobless claims also drew interest.

The Philly FED Manufacturing PMI increased from 23.8 to 39.0, with the upside coming in spite of continued supply chain disruptions.

Jobless claims figures were less impressive, however, with initial jobless claims falling from 269k to 268k in the week ending 12th November.

Out of the UK

It was a busy week, with employment, inflation, and retail sales figures in focus.

The stats were skewed to the positive.

In September, the unemployment rate fell from 4.5% to 4.3%, supported by a 247k increase in employment. Claimant counts continued to decline in…

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