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A small  beat in weekly  unemployment claims: 247K against 255K projected. Last week’s figure was revised from 235K to 237K. Import prices rose only 0.4%.

The US dollar is making an attempt to recover, less on the actual figure but just on the opportunity to pare the losses.

US jobless claims were expected to  rise to 255K from the low of 235K that was recorded last week. Import prices carried expectations for a rise of 0.8% after a slide of 0.3% beforehand.

The US dollar has been on the back foot following Donald Trump’s press conference. The President-Elect did not make any mention of his grand promises to boost fiscal spending, something that has triggered the big dollar rally. However, he did spark worries with fresh  threats for US companies regarding  moving factories outside America. The trade war talk worries markets.

The US dollar dropped on the Donald  and continued lower ever since. EUR/USD is already up over 200 pips from the lows, trading at 1.0660 before the release. GBP/USD was  just under 1.23 from trading at the 1.20 handle. USD/JPY is around 114.

More:  USD: Keep Buying Dips Selectively Ahead Of Trump’s Inauguration – Credit Agricole