US Weekly Jobless Claims Fall; Business Spending On Equipment Easing  

• Canada's annual inflation rate decreased more than anticipated to 3.1% in October, down New claims for unemployment benefits in the U.S. decreased more than expected, but this does not alter the perception of a gradually slowing labour market due to higher interest rates impacting economic demand.
• While weekly jobless claims dropped, the unemployment rolls, though declining for the first time since mid-September, remained near yearly highs, indicating persistent challenges in handling seasonal fluctuations in the data.
• Economists believe the Federal Reserve is unlikely to raise interest rates further, considering the slowdown in labour demand and easing inflation. However, the job market remains robust enough to preclude immediate considerations for rate cuts.
• Concerns about rising inflation expectations, reflected in a University of Michigan survey, could influence policymakers, reminding them that the recent surge in inflation may take time to fully reverse, even as the labour market moderates.

(Source: Reuters)