Category Archives: Latest news and important economic events

Crude Oil inventories 4590K

Crude inventories in the US rose by 4.590 million barrels in the week ended May 1st, 2020, following an 8.991 million increase in the previous period and compared with market forecasts of a 7.759 million advance, according to the EIA Petroleum Status Report. Meanwhile, gasoline inventories fell unexpectedly for the second straight week, down by 3.158 million. crude oil inventories 4590K

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US initial jobless claims 3839K, what brings the total job losses near to 30 million

In the week ending April 25, the advance figure for seasonally adjusted initial claims was 3,839,000, a decrease of 603,000 from the previous week’s revised level. The previous week’s level was revised up by 15,000 from 4,427,000 to 4,442,000. The 4-week moving average was 5,033,250, a decrease of 757,000 from the previous week’s revised average. The previous week’s average was

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Initial jobless claims bringing the total to over 22 million workers over the last 4 weeks

In the week ending April 11, the advance figure for seasonally adjusted initial claims was 5,245,000, a decrease of 1,370,000 from the previous week’s revised level. The previous week’s level was revised up by 9,000 from 6,606,000 to 6,615,000. The 4-week moving average was 5,508,500, an increase of 1,240,750 from the previous week’s revised average. The previous week’s average was

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US initial jobless claims 6606K

In the week ending April 4, the advance figure for seasonally adjusted initial claims was 6,606,000, a decrease of 261,000 from the previous week’s revised level. The previous week’s level was revised up by 219,000 from 6,648,000 to 6,867,000. The 4-week moving average was 4,265,500, an increase of 1,598,750 from the previous week’s revised  average. The previous week’s average was

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Nonfarm payroll employment falls by 701,000 in March; unemployment rate rises to 4.4%

Nonfarm payroll employment declined by 701,000 in March, and the unemployment rate increased to 4.4 percent, reflecting the broad impact on the job market of the coronavirus (COVID-19) and efforts to contain the illness. Employment fell by 459,000 in the leisure and hospitality industry, mainly in food services and drinking places. Notable employment decreases also occurred in health care and

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US Jobless claims soar to record high of 6,6 million

In the week ending March 28, the advance figure for seasonally adjusted initial claims was 6,648,000, an increase of 3,341,000 from the previous week’s revised level. This marks the highest level of seasonally adjusted initial claims in the history of the seasonally adjusted series. The previous week’s level was revised up by 24,000 from 3,283,000 to 3,307,000. The 4-week moving

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US GDP increased at an annual rate of 2.1 percent in the 4th Q of 2019

Gross Domestic Product, Fourth Quarter and Year 2019 (Third Estimate); Corporate Profits, Fourth Quarter and Year 2019 Real gross domestic product (GDP) increased at an annual rate of 2.1 percent in the fourth quarter of 2019 (table 1), according to the “third” estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP also increased 2.1 percent. The

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US weekly EIA crude oil inventories +13833k, but the price is stuck at $20 for now

US weekly EIA crude oil inventories +13833k vs +3300k expected Prior was +1623K Gasoline +7524K vs +1200K exp Distillates -2194K vs +1000K exp Refinery utilization -5.0%  vs -1.0% exp Production 13.0 mbpd vs 13.0 mbpd prior API yesterday: Oil +10485K Cushing +2926K Gasoline +6058K Distillates -4458K The price of crude oil is firmly held at aprox $20 and it looks

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From March 15 to March 21.2020, 3,3 million US workers filed for unemployment insurance!

Is this a clear sign of possible new Great Depresion? Well, if we take a look at the 2009 crisis data and this one from last week, we could be near that form. Acording to some analysts, US unempoyment rate might rise as high as 30% in the 2nd quarter of 2020. $2.2 trillion bill Congress passed so far, but

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Germans IFO economist Wohlrabe: GDP could fall between 5 and 20% in 2020

If todays German manufacturing index data is not a warning sign of the biggest posiblle recesion in recent history, nothing is in my point of view. IMF business climate index fell to 86.1 which is the lowest level since August 2009. Also, based on the GDP projection from Klaus Wohlrabe, the World could retun in 30’s crisis and fall in

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US Unemployment Rate 2009 – 2019

Total nonfarm payroll employment increased by 304,000 in January, and the unemployment rate edged up to 4.0 percent from the previous 3.7 percent from September and November 2018, the U.S. Bureau of Labor Statistics reported yesterday. So, let’s take a quick look at the 10 year US Unemployment chart, from the highest crisis point at 10 percent, which was on October

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