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US jobless claims fall to 283K – better than expected

Some good news from the US: jobless claims dropped to 283K, better than 293K predicted. This is a 21K fall. The 4 week moving average is down to 283.25K.  Continuing claims stand at 2.425 million, somewhat above expectations. Nevertheless, this is a positive report all in all.

The US dollar is marginally stronger against the yen, but not so much against the euro.

The United States was expected to report a drop of unemployment claims to 293K, down from 304K seen last week.

The US dollar was stronger  across the board, recovering from the dovish FOMC meeting minutes. USD/JPY traded above 119 and EUR/USD around 1.1380, also due to the latest developments in Greek crisis. GBP/USD was around 1.5415.

Jobless claims have been more volatile of late, with a big drop followed by a big jump. They provide a weekly  barometer of the US jobs market.

Here is the preview:  USD/JPY: Trading the US Unemployment Claims

Later we have the Philly Fed Manufacturing Index. After the Fed minutes yesterday, the focus returns to Greece.

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.