US unemployment claims drop to 366K, much better than expected. This is good news for the US. Expectations stood on a rise to 389K. This is a three year low, and another encouraging sign that the recovery might have finally reached the job market, after a huge delay.
EUR/USD is now rising on risk appetite trading. It’s range is 1.30 to 1.3060 at the moment. This wasn’t the only positive surprise.
Another interesting figure is the Empire State Manufacturing Index that rose to 9.5 points, triple the early expectations for a rise to 3.1 points. This is the highest level since May.
The US Producer Price Index rose by 0.3%, as expected. Core PPI rose by 0.1%, less than 0.2% that was predicted.
The American Current Account deficit dropped to 110 billion, a bit more than 108 estimated.
The big bulk of data continues with TIC Long-Term Purchases, industrial production, capacity utilization rate and the fresh December report of the Philly Fed Manufacturing Index.
See how trade the Philly Fed figure with EUR/USD.
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