January 2, 2025
United States:
US Initial Jobless Claims Fall to Eight-Month Low to End 2024
Initial applications for US unemployment capped 2024 at an eight-month low, reflecting the relatively muted levels of job cuts in a labour market that has remained surprisingly resilient.
New claims fell by 9,000 to 211,000 in the week ended Dec. 28, lower than all but one estimate in a Bloomberg survey.
Europe:
Euro Falls to Weakest Versus Dollar Since 2022
The euro fell to its weakest level versus the dollar in over two years amid concerns about Europe’s economy and monetary policy divergence with the US.
The common currency fell 0.4% to $1.0314, the lowest level since November 2022, extending its decline since late September to around 8%.
Asia:
China’s Factory Activity Growth Slows as Recovery Remains Bumpy
China’s manufacturing activity slowed its pace of expansion in December, as investors wait for more economic stimulus when Donald Trump — who is threatening tariffs on Chinese exports — returns to the White House.
The Caixin manufacturing purchasing managers index fell to 50.5 from 51.5 in November, according to a statement released by Caixin and S&P Global on Thursday. While any reading above 50 indicates an expansion of activity, the figure was a disappointment compared with the median forecast of 51.7 by economists.
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