US jobless claims at 277K as expected

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Some stability in turbulent markets: jobless claims are back to range with 277K, after an unpleasant rise to 287K in the previous week. Continued claims are at 2.23. They were already at lower ground, but this certainly isn’t alarming.

US weekly jobless claims were expected to slide back to range, standing at 275K after a worrying rise to 287K just before the new year. Figures from the US have been quite mediocre of late, but jobs have stood out.

Markets are focused on the situation in China as well as various geopolitical issues and the atmosphere is certainly gloomy – falling stocks, crushed oil prices and in currencies: safe haven currencies stay strong while all the rest are crashing.

EUR/USD advanced towards resistance at 1.0880, USD/JPY settled on low ground around 117.60 while AUD/USD lost 0.70, USD/CAD went for the skies and GBP/USD fell to the lowest since 2010.

Tomorrow we have the one event that will certainly draw attention: Non-Farm Payrolls.

More: Crash continued – watch oil and stocks ahead of the NFP

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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.

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