Home US jobless claims fall to 282K – USD marginally stronger
Forex News Today: Daily Trading News

US jobless claims fall to 282K – USD marginally stronger

A better than expected figure from the US: 282K jobless claims, lower than 291K predicted. This sends the 4 week moving average below 300K to 297K, after long weeks above this level. Continued claims stand at 2.416 million, similar to previous number.

The USD is slightly stronger after the release, but nothing earth shattering. EUR/USD is still around 1.10, showing indecision. GBP/USD remains shy of 1.50. USD/JPY is still under 119, but ticking up from the lows.

USD/CAD is standing out by trading significantly lower than recent ranges. That’s thanks to a surge in oil prices resulting from the war in Yemen.

US jobless claims were expected to remain unchanged at 291K for another week.

The US dollar was still trying to find a base towards the publication as the  correction continues.

The losing streak of economic indicators was disrupted by the better than expected inflation numbers and new home sales. However, the awful durable goods orders weighed on the greenback again.

There are still doubts on the timing of the first rate hike and lower expectations for the  eventual outcome of the tightening cycle: it will probably end with a lower interest rate than historic peaks.

More:  An Uneven USD Pullback; What’s Next? – Credit Suisse


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.