A slight disappointment in weekly jobless claims: they rose to 277K. Nevertheless, this is within the range seen in recent weeks. Continuing claims dropped to 2.191 million, slightly better than expected. and better than 2.242 million last week. The 4 week average stands at 270.75K, 1K under last week’s figure, showing a lot of stability all in all.
The US dollar seems to await bigger events, today and more importantly tomorrow.
Weekly US jobless claims were expected to stand at 270K after 267K last week (before revisions). This serves as a small hint towards tomorrow’s big event: the Non-Farm Payrolls.
Towards the event, EUR/USD traded around 1.1155 and USD/JPY at 119.74. Both currencies are a bit stronger against the greeenback.
All in all, the number of weekly claims has been quite steady.
Later today we have the ISM Non-Manufacturing PMI which also serves as a hint towards the NFP .There’s a chance it may drop under the 50 point mark separating growth and contraction.
5 most predictable currency pairs – Q4 2015
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