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February 12, 2026
The Labor Department released a report on Thursday showing a modest decrease in first-time claims for U.S. unemployment benefits in the week ending on February 7. The report stated that initial jobless claims decreased to 227,000, a 5,000 decrease from the previous week's level of 232,000. The smaller decline came a week after jobless claims reached their highest level in nearly two months.
Meanwhile, the Labor Department said the less volatile four-week moving average rose to 219,500, an increase of 7,000 from the previous week's average of 212,500. The report also said continuing claims, a reading on the number of people receiving ongoing unemployment benefits, climbed by 21,000 to 1.862 million in the week ending on January 31. The four-week moving average of continuing claims still fell by 3,250 to 1,846,750, the lowest level since the week ending on October 5, 2024.
A more closely watched report released by the Labor Department on Wednesday showed employment in the U.S. increased in January. The Labor Department said non-farm payroll employment jumped by 130,000 jobs in January after rising by 48,000 jobs in December. The report also said the unemployment rate edged down to 4.3% in January from 4.4% in December. 02/12/2026 - 09:33:00 (RTTNews)
British Pounds traded at 1.3627 against USD at 9:00 AM PST
U.K. economy expanded only marginally in the fourth quarter as tax hike concerns ahead of the Autumn Budget dampened activity. GDP grew 0.1% quarterly, the same slow pace of increase as seen in the third quarter. On an annual basis, GDP was up 1.0% in the fourth quarter. Growth in the latest quarter was driven by an increase of 1.2% in production, while the construction sector fell 2.1% and the services sector showed no growth.
On the expenditure side, growth in household consumption halved to 0.2% from 0.4% in the third quarter. Government spending advanced 0.4%, reflecting an increase in health, public administration, defense, and social care. Meanwhile, gross fixed capital formation fell 0.1% as business investment plunged 2.7%, reversing the 1.6% rise in the third quarter.
British Chambers of Commerce reported that the quarterly data paints a subdued picture. Flat services, the sharp fall in construction, and the decline in business investment in the fourth quarter points to weak momentum going into 2026 and underlines the persistent low growth trap the U.K. faces.
A softer end to last year comes as little surprise, given the pressures many businesses experienced throughout the year: uneven demand, rising costs, and persistent uncertainty that led key hiring and investment decisions to be deferred. In 2025, the economy grew 1.3%, rising from a growth of 1.1% in 2024. Further, GDP edged up 0.1% month-on-month in December following the 0.2% rise in November.
The visible trade deficit narrowed to GBP 22.7 billion in December from GBP 23.6 billion in the previous month. Meanwhile, the trade in services resulted in a surplus of GBP 18.4 billion, which was slightly above November's surplus of GBP 18.02 billion. As a result, the total trade gap came in at GBP 4.3 billion versus a GBP 5.6 billion deficit a month ago. 02/12/2026 - 06:09:00 (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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