US Jobless Claims: 387K

The number of weekly unemployment claims stand at 387K. Early expectations stood on 381K. This is not the first disappointment in recent weeks.

EUR/USD trades around the 1.2660 line.. USD/JPY is holding on above 80.

Last week, the US initially reported 386K jobless claims. This was now revised to 389K. The moving average is moving higher. They were at a level of around 360K earlier in the year. A level of under 400K is considered to be necessary to keep unemployment from rising.

Economic data from the US remains weak: in most cases in the past two months or so, most of the economic indicators are disappointing. This was NOT enough for QE3 in June, but it keeps the door open for this option in the future.

Two more important figures are released later on: existing home sales and the Philly Fed Index. Will these disappoint as well?

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.