US Jobless Claims Increase | Iran Willing to Close Strait of Hormuz
Published July 18, 2019
Filings for US unemployment rose slightly this morning while remaining around a historically low level. Jobless claims rose to 216,000, according to Labor Department figures with the four-week average edging down to 218,750.
UK retail sales data indicated growth this month as the quantities purchased increased by 0.7%, with development across all sectors except food stores and department stores. However, this was a slowdown from the stronger growth of 1.6% in May.
Iran’s Foreign Minister stated that the country could close the Straits of Hormuz but that it doesn’t want to as it is a lifeline for the country’s economy. He went on to state that the US had “shot itself in the foot” by withdrawing from the 2015 nuclear deal.
President Trump’s ongoing grievances about Beijing’s resolve on the easing of trade restrictions on technology giant Huawei Technologies could mean that progress towards significant discussions remain unlikely.