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December 4, 2025
The Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits fell to a three-year low in the week ending on November 29. The report stated that initial jobless claims decreased to 191,000, a 27,000 drop from the previous week's level of 218,000. With the decline, jobless claims dropped to their lowest level since hitting 189,000 in the week ending on September 24, 2022.
The Labor Department reported that the less volatile four-week moving average also fell to 214,750, a decrease of 9,500 from the previous week's revised average of 224,250. Continuing claims, the number of people receiving ongoing unemployment assistance also slipped by 4,000 to 1.939 million in the week ending on November 22. The four-week moving average of continuing claims also dipped to 1,945,250, a decrease of 6,250 from the previous week's revised average of 1,951,500. 12/04/2025 - 09:37:00 (RTTNews)
Euro traded at 1.1656 against USD at 9:00 AM PST
Eurozone retail sales stalled in October after expanding slightly in September. Monthly, retail sales logged a flat change in October versus a 0.1% rise in September, which was the first increase in three months.
A 0.3% increase in sales of food, drinks, and tobacco was offset by a 0.2% decrease in sales of non-food products. Sales of automotive fuel in specialized stores advanced by 0.3%. Year-on-year, retail sales growth accelerated to 1.5% from 1.2% in September. In the EU, retail sales also remained flat compared to September, while they grew 1.6% from last year. 12/04/2025 - 05:55:00 (RTTNews)
Germany's construction sector continued to contract in November, but the pace of decline softened due to the rise in civil engineering activity. The construction Purchasing Managers' Index registered 45.2 in November, down from October's seven-month low of 42.8. A score below 50.0 indicates contraction in the sector.
A renewed upturn in civil engineering activity primarily drove the increase. However, there were sustained downturns in housing and commercial activity. Residential activity remained the weakest-performing segment by some margin. Constructors reported another faster decline in incoming new work. With workloads falling, constructors maintained a negative outlook for activity in the coming year.
There was a slight rise in employment despite skepticism in the outlook. It marked the end of a continuous sequence of job shedding stretching back to April 2022. Weak demand for building materials and products helped constrain the rate of purchasing price inflation. Subcontractor charges increased at a slightly slower pace than the month before.
Supplier delivery times lengthened for the second straight month and for only the third time in the past 21 months. The deterioration in vendor performance was the greatest seen since February 2024. 12/04/2025 - 04:19:00 (RTTNews)
British Pounds traded at 1.3351 against USD at 9:00 AM PST
The U.K. construction sector contracted at the fastest pace since May 2020 as output decreased amid challenging market conditions. The construction Purchasing Managers' Index dropped to 39.4 in November from 44.1 in October. This was the lowest score since May 2020.
Housing activity, commercial construction, and civil engineering all reported the fastest downturns in activity for five-and-a-half years. Respondents cited fragile market confidence, delays with the release of new projects, and a lack of incoming new work for the deterioration in activity.
New business fell at a rapid pace in November. The new order sub-index showed the fastest downturn in new work since early 2009. Companies commented on sales headwinds due to risk aversion among clients, worries about the U.K. economic outlook, and elevated business uncertainty ahead of the Budget.
Employment decreased for the eleventh straight month in November. The fall suggested a lack of new work and elevated wage pressures. The latest fall was the sharpest since August 2020. By contrast, supplier performance improved solidly in November to the greatest extent since June 2024. Overall buying activity fell at the steepest pace in five-and-a-half years.
Cost burdens increased at an accelerated pace in November, but the speed of inflation remained well below the long-run survey average. Some firms commented on hopes of a rebound in general market conditions and support for lower borrowing costs. Meanwhile, others cited cutbacks to clients' investment spending plans and concerns about economic prospects, which weighed on the outlook. 12/04/2025 - 05:54:00 (RTTNews)
This market update is prepared by Cathay Bank for informational purposes only and does not constitute any form of legal, tax or investment advice, nor should it be considered an assurance or guarantee of future exchange rate movements or trends. This information is provided without regard to the specific objectives, financial situations or needs of any recipient. Cathay Bank does not make any representations or warranties about the accuracy, completeness or adequacy of this market update.
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