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US jobless claims: 265K – better than expected – USD

A better than expected jobs number from the US: 265K.  Continuing  claims are down to 2.228 million, also better than predicted. No revisions were  reported. The 4 week moving average is down to 279.5K – the lowest since May 2000.

The US dollar is extending its gains, with EUR/USD down to 1.1265.

The US was expected to report weekly jobless claims at 277K, up from 262K reported originally last week.

The US dollar enjoyed a recovery of sorts from the poor data that hit it yesterday. The question about a second quarter recovery remains open.

EUR/USD traded just under 1.13, GBP/USD around 1.5220 on election day, USD/JPY around 119.15, USD/CAD at 1.2070, AUD/USD at 0.7980 and NZD/USD at 0.7480.

Canada reported a gain of 11.6% in building  permits, so the loonie stands out against other currencies.

Continued claims were predicted to stand at 2.28 million.

Tomorrow we get the ultimate jobs data: the Non-Farm Payrolls.

See how to trade the NFP with EUR/USD

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.