Overseas Headlines – September 23, 2021

United States:

U.S. Initial Jobless Claims Unexpectedly Rose for a Second Week

“Applications for U.S. state unemployment benefits unexpectedly rose last week, led by a surge in claims in California, a sign of choppy weekly data as the labor market continues its broad recovery. Initial unemployment claims in regular state programs rose to 351,000 in the week ended Sept. 18, Labor Department data showed Thursday. The median estimate in a Bloomberg survey of economists called for a decrease to 320,000 new applications.”



BOE Opens The Door for 2021 Rate Hike as Inflation Seen Above 4%

“The Bank of England raised the prospect of hiking interest rates as soon as November to contain a surge in inflation, which it now expects to exceed 4% with a spike in energy prices. Noting the “modest tightening” in policy foreseen over its forecast horizon in August, “some developments during the intervening period appear to have strengthened that case, although considerable uncertainties remain,” the Monetary Policy Committee said in a statement on Thursday.”



Korea’s Exports Set to Slow in September, Early Data Show

“South Korea’s early trade data show exports are set to slow in September as fewer working days and headwinds from an outbreak of the delta variant weighed on the pace of growth. Exports rose 22.9% in the first 20 days of September from a year earlier, down from 41% in August’s preliminary report, data from the customs office showed Thursday. Still, average daily shipments gained 31.3% during the period when taking into account one less business day than last year, in line with the pace in August.”



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