US Jobless Claims 382K – Worrying
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US Jobless Claims 382K – Worrying

The number of unemployment claims in the US rose to 382K. Expectations stood on 370K after the initial report about 365K last week. This was now revised to 367K. Continuing claims are on the rise as well: 3.283 million is the fresh number.

PPI rose by 1.7% – it was expected to rise by 1.1%. Core PPI was predicted to edge up by 0.2% and met expectations.

Update:  Fed Announces QE3: $40 Billion in MBS, Open Ended, Low Rates Through 2015

EUR/USD is a bit higher: 1.2911 at the moment, while USD/JPY is steady at around 77.61.

More:  EUR/USD is flirting with uptrend support

Markets are awaiting the Fed decision later today. Will we see QE? Not so fast.

A not so good result in jobless claims could boost the QE3 camp. However, this isn’t a huge change.

Note that USD/JPY is at a 7 month low and is pricing in QE3 quite heavily. We could see a reversal regardless of the result.

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.