US jobless claims 343K, durable goods orders exceed expectations

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The weekly US jobless claims figure rose to 343K. It was expected to move to 339K from 346.5K last week (revised up from 334K). This is within expectations. The 4 week moving average remains around 346K. Continuing claims were expected to drop from 3.114 to 2.98 million and they actually printed 2.997 million. Durable goods orders jumped by 4.2%. They were predicted to rise by 1.1%. core orders saw estimations of a 0.5% advance and they remained flat.

EUR/USD traded above 1.32 before the release and initially dropped before returning to previous levels. USD/JPY continued its dance with 100, and it traded below the line. GBP/USD was on the defensive after the publication of GDP figures. All in all, the dollar is marginally stronger after the releases, but the moves seem limited.

Last week’s better than expected drop in claims to 334K gave the greenback a boost. The Federal Reserve focuses its attention on jobs, making each of these weekly releases a serious market mover.

Further reading: Video: Where next for EUR/USD, EUR/GBP, GBP/USD, AUD/USD and USD/CAD

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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 the 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.