US jobless claims at 339K – within expectations

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The first weekly jobless claims report in 2014 begins with 339K. The number of claims was expected to stand at 334K after 341K last week (revised up from 338K). Continuing claims stood on 2.923 million before revisions. They slid now to 2.883 million. Continuing claims remain under 3 million, but they aren’t going to far away from this round number.

The dollar was stronger towards the publication, with EUR/USD plunging to 1.3660, GBP/USD to 1.6490 and USD/JPY at 105.30. The dollar is marginally weaker after the release, but still enjoying most of its earlier gains.

Update: the initial weakness in USD was quite short lived, and the greenback returns to the levels seen beforehand.

For EUR/USD, the new year’s breakdown is also a loss of long term uptrend support. Towards the end of 2013, the pair continued rising along the line, but it lost it afterwards.

This publication serves as a minor hint towards the Non-Farm Payrolls on Friday. A more important hint comes from the ISM Manufacturing PMI, and especially its employment component.

See how to trade the US ISM Manufacturing PMI with EUR/USD.

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About Author

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.

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