US jobless claims forecasts range is huge, guesses as high as 4 million for the week

Given the wave of lay offs and job losses the previous week’s number is of little use as a guide: 281K

  • Citi’s estimate is at 4 million (as is Oxford Economics)
  • BOA, HSBC are at 3m
  • TD, Capital Economics and Pantheon are at 2.5m
  •  Goldman 2.25m
  • Barclays, JPM Asset Mgmt 2m
  • UBS is at 860K

Such a wide range makes the ‘median consensus’ estimate of little value (its 1.64m FWIW) 

The data point is for the week ended March 21 

Due at 1230GMT on 26 March 2020 

ForexLive