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US jobless claims rise to 290K – dollar ticks down

A slight disappointment from the US: jobless claims rose to 290K, a rise of 12K from last week. Continuing claims rose from 2.35 to 2.392 million. There were no unusual reports within the publication and last month’s number was not revised. The 4 week moving average is now up to 285K, still very low.

The dollar is slightly lower, with EUR/USD rising to 1.2472, GBP/USD ticked higher to 1.5750 and USD/JPY dipped to 115.30. All in all, this is a minor disappointment and not a major one.

The weekly US jobless claims indicator was expected to stand at 282K, following 278K last week. The 4 week moving average is  under 280K, at the lowest levels seen since the year 2000.

Before the publication, EUR/USD traded around 1.2360, USD/JPT around 115.60 and  GBP/USD was down to new lows at around 1.5740.

While weekly numbers can be shrugged as “one offs”, recent numbers have been quite  steady and have been going down. Here is the preview: trading jobless claims with dollar/yen.

JOLTs are released later on. This is a jobs-related report for the month of September. Despite the lag, the Fed looks closely at it, and so do markets. Last week’s Non-Farm Payrolls numbers fell short of expectations and hit 214K in October. However, upwards revisions and a few other good internal numbers helped improve the picture.

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.