Traders remain nervous ahead of US third-quarter data later Friday, with forecasts pointing to growth of 1.6 percent for the world’s biggest economy.
Data released on Thursday provided some hope. US Labor Department figures showed initial jobless claims falling by 23,000 to 369,000 in the week ending October 20. That was better than the average estimate of 375,000.
And durable goods orders also rose 9.9 percent from August, well above the average analyst forecast of 8.0 percent.
“We saw yesterday a mix of reasonable data coming out in terms of durable goods and jobless claims falling,” said Jason Hughes, head of premium client management for IG Markets Singapore, told AFP.
“All eyes will be on the US GDP tonight, which will perhaps give a guide on whether we are truly turning the corner.”
Shayne Heffernan oversees the management of funds for institutions and high net worth individuals.
Shayne Heffernan holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reached a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.Read the Terms of Service