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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.