Falling more-than-expected, U.S.first-time jobless claims dropped to 289,000 in the week ended March 7th, from the previous week's revised level of 325,000. Economists had expected jobless claims to pull back to 309,000 from the 320,000 originally reported for the previous week.
Remittances have numerous benefits for development. They have been associated with accelerated poverty alleviation, improved access to education and health services, and greater financial development. In addition, remittances may enable consumers to maintain their consumption levels despite illness or some other calamity, which may be critical at very low levels of income.
The euro depreciated further against the dollar on Wednesday, slumping as much as 1.5% to a 12-year low of $1.056 before stabilizing slightly, as the ECB’s QE program continued to push the region’s bond yields down to new record lows. The single currency was broadly weaker against other major currencies, sinking to a 7-year low versus sterling at 70.145 and an 18-monh low against the yen at 128.20.