Weekly unemployment claims in the US stand at 386K. Early expectations stood on 385K. The initial report for last week stood on 387K. Update: Last week’s number was revised to upside to 392K. This weekly barometer is stabilizing at higher ground – worse than earlier in the year. The 4 week moving average stands at 386,750. A level of under 400K is considered sufficient to keep unemployment from rising. This level is getting closer. EUR/USD traded around 1.2420 before the release. USD/JPY around 79.40. Both pairs are rising after the release. The final GDP release for Q1 confirmed the previous read of an annual 1.9%. Q2 is probably seeing even slower growth. Housing remains the bright spot in the US economy: pending and new home sales, as well as building permits, have surprised to the upside recently, while other indicators fell short of expectations. EUR/USD is reacting strongly to every headline from the EU Summit as indicators play second fiddle. The EU Summit is expected to discuss steps to tackle the debt crisis as well as a long term vision for a fiscal and banking union. As previewed here, traders can expect a disappointment – previous summits have disappointed, and there’s still room for falls. USD/JPY reacts to US figures in a better manner. 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. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next Forex Daily Outlook June 29 2012 Anat Dror 10 years Weekly unemployment claims in the US stand at 386K. Early expectations stood on 385K. The initial report for last week stood on 387K. Update: Last week's number was revised to upside to 392K. This weekly barometer is stabilizing at higher ground - worse than earlier in the year. The 4 week moving average stands at 386,750. A level of under 400K is considered sufficient to keep unemployment from rising. This level is getting closer. EUR/USD traded around 1.2420 before the release. USD/JPY around 79.40. Both pairs are rising after the release. The final GDP release for Q1 confirmed the previous… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.