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US jobless claims beat with 264K – more USD recovery?

More better than expected job new after yesterday’s good JOLTs  but after the horrible NFP: jobless claims continue sliding and stand at 264K, slightly better than predicted. This is 4K lower than an upwards revised 268K last week. Continuing claims continue their drop towards the 2 million level with a beat at 2.095 million this time. The 4 week moving average slips back down under 270K.

Will the recovery of the US dollar continue? This recovery is still young and the dollar has been hit hard in the past week or so.

The weekly US jobless claims barometer was expected to stand at 270K after 267K last week (before revisions).

The US dollar was attempting a recovery as the yen continued surging higher. This session is a “risk off” one.

EUR/USD has failed to breach resistance at 1.1410 and fell back to support at 1.1335. The kiwi enjoyed early gains and the Canadian dollar backed off the highs after yesterday’s oil rally.

Another important publication awaits us tomorrow. See how to trade the US consumer sentiment with EUR/USD.

Here is the EUR/USD chart.

EURUSD June 6 2016 jobless claims

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.