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US Jobless Claims Post Impressive Drop to 335K, Housing

The number of unemployment claims in the US stands on 333K. Expectations stood on 369K. This is the lowest level since January 2008 – the lowest in 5 years.

EUR/USD remains at high levels at 1.3374. USD/JPY is at 89.50.

Update:  Philly Fed Index Badly Disappoints, Falls to Negative Ground

This is not the first drop to these kind of levels, but usually it was related to one time effects, such as distorted data because of the Sandy superstorm. This fresh drop, not in any special is therefore meaningful, assuming it will not be revised lower.

Building permits stand at 0.90 million, as expected. Housing starts surprised with a strong rise to 0.95 million.

All in all, these figures show that the US economy is on a recovery path.

Further reading:  Traders for now are comfortable buying EUR and that should not change


Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.