US Initial Jobless Claims Preview: The collapse of employment has ceased to be a market tragedy

The US will release Initial Jobless Claims which are predicted to be 3 million on Thursday at 12:30 GMT. Joseph Trevisani, an analyst at FXSTreet, with the preview.

Key quotes

“Initial unemployment claims are expected to be 3 million in the week of May 1 raising the total to over 33 million in seven weeks.  Continuing claims are projected to climb to 19.905 million from 17.992 million.”

“The labor market disaster, specifically jobless claims have largely been absorbed into price levels and, barring surprises equities, currencies, and bonds are focused on the future.”

“When and if the economy begins to show signs of the long road back to normality is more telling than the latest insurance figures.”