More positive news from the US job market: weekly jobless claims dropped to 395K, better than 400K that was expected. While this isn’t a very big difference, it is still the best since April. This releases the hot air out of the franc and the yen. USD/JPY is up to 76.80, after trading lower earlier in the day. USD/CHF, extends its gains and is now at 0.7534. The low chances of QE3 are now lower. A few weeks ago, there was a report of a drop to 398K, but it was later revised to the upside. The round number of 400K is of psychological importance. If claims stabilize below this number, it could be reflected in a drop in the unemployment rate. This report joins the latest Non-Farm Payrolls report for July, published this Friday – it has shown a gain of 117K jobs and a drop in the unemployment rate to 9.1%. The real unemployment rate also ticked down, but it is still extremely painful. The aren’t signs of healthy growth, but they also show that not all is lost. The yen and the franc are the most sensitive currencies to US releases. The drop under 400K helped them lose some of their hot air. The recent interventions had a wild, yet short lived effect. Ben Bernanke pledged to keep low rates unchanged at least until mid 2013, but offered no hints of QE3. Some analysts are still expecting him to do so in the JAckson Hole Symposium on August 26th, but I think the chances are quite low, especially as inflation is high and deflation risks are low. 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. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next Risk Factor – Explained Yohay Elam 12 years More positive news from the US job market: weekly jobless claims dropped to 395K, better than 400K that was expected. While this isn't a very big difference, it is still the best since April. This releases the hot air out of the franc and the yen. USD/JPY is up to 76.80, after trading lower earlier in the day. USD/CHF, extends its gains and is now at 0.7534. The low chances of QE3 are now lower. A few weeks ago, there was a report of a drop to 398K, but it was later revised to the upside. The round number of… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
