US Econ Roundup – Initial Claims Improve To Best Level Since 2007 & Trade Prices Remain SubduedApril 10, 2014
Weekly Initial Jobless Claims fell to 300K which is the lowest level in 360 weeks (May 2007). The four-week moving average is very close to making a new 7-year low as well.
Import prices rose by 0.6% month-over-month in March while export prices rose a strong 0.8%. On year-over-year basis, however, prices remained subdued as import prices are slightly negative (-0.6%) and export prices are only slightly positive (0.2%). Import prices ex-petroleum are slightly positive year-over-year but look like they may slip to slightly negative according to exchange rates. Finally, the movement in the yen is indicating that we may see a rise in import prices of autos in the near future. This wouldn’t be too surprised given that the year-over-year change in auto import prices are basically at all-time lows.