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US jobless claims rises to 283K – lowest moving average

US  unemployment claims are off the lows and rise back to 283K. However, this number still reflects a low level and maintains a low moving average: 281K – the lowest since May 2000. Last week’s number was revised up from 264K to 266K. Continuing claims dropped to 2351K, better than 2380K expected.

The dollar is slightly stronger after the publication with EUR/USD ticking lower.

US jobless claims were expected to stand at 269K, up from the ultra low 264K reported last week – the lowest since April 2000.

A “risk on” environment was seen before the publication, with the dollar and the yen sliding.

Before the publication, EUR/USD traded around 1.2660, GBP/USD around 1.6020, USD/JPY around 107.60, USD/CAD at 1.1290 and AUD/USD just under 0.88.

So far this week, US data marginally beat expectations. Inflation is stable at 1.7%, and existing home sales are the highest in around one year. We later have Markit’s flash manufacturing PMI and tomorrow’s new home sales will also be interesting to watch.

Stay tuned for our new podcast that serves as a preview to the Fed. Here are 5 reasons to dismiss doubts about the end of QE.

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.