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US Unemployment Claims are projected to decline from the highs of 853,000 recorded last week, a significant setback. The dollar has been battered by the economic slowdown in the United States and is set to remain depressed until the outlook changes, Joseph Trevisani, an Analyst at FXStreet, reports. 

Key quotes

“Filing for Initial Jobless Benefits are forecast to fall to 800,000 in the December 11 week. The previous week’s 853,000, a jump of 137,000, was the highest since September 18. Continuing Claims are expected to decrease to 5.598 million in the week of December 4 from 5.757 million in the prior.”

“The return of labor problems and increases in unemployment claims, in addition to reporting the changes in the labor market, brings back the unpleasant shocks of March and April. The greenback cannot recover until the facts change.”