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US jobless claims stand at 291K – USD slightly stronger

Stability in US jobless claims: 291K this time after 289K last time. This was now revised to 290K, showing even greater stability. The four week moving average is  at 304.75K, but it could fall next week.

The US dollar continues recovering after the  punch from the Fed.

Continuing claims stand at 2.417 million, similar to levels seen beforehand.

At the same time, the US current account was reported, and it missed predictions, hitting a deficit of 113.5 billion in Q3, worse than 103 predicted. This is also up from 100.3 billion seen in Q3.

The US dollar was badly hit by the relatively dovish Fed decision yesterday. Yellen clarified that the removal of patience does not imply an “impatient” Fed regarding rate hikes.

However, this move reversed itself quite quickly, with the dollar getting back up on its feet once again in the morning after.

There is another important  indicator awaiting the dollar today: the Philly Fed Index. It is expected to tick up from 5.2 to 7.2 points.

More:  US Treasury Secretary sees pay rises – does the Fed agree?


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.