US jobless claims fall to 284K – great news –

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Excellent news from the US job market: only 284K, the lowest in a long time: February 2006. Weekly jobless claims were expected to tick up to 310K from 303K last week (before revisions). This is within the recent steady and stable range. The previous 4 week moving average stood on 309K and it now stands at 302K, the lowest since May 2007. Continuing claims were at 2.57 million last week. Continuing claims stand at 2.50 million, lowest since June 2007. There is one caveat though: officials says that claims are often volatile around this time of the year.

Towards the publication, EUR/USD traded around 1.3472, GBP/USD just above 1.70 and USD/JPY around 101.65. The dollar is stronger — more coming

EUR/USD is ticking down to 1.3465 and GBP/USD is below 1.70. The low so far is 1.6997, which is not too far. It is still the lowest since June 26th. USD/JPY is almost unchanged though.

Earlier, the euro dipped to low ground only to bounce back in what looks like a hammer pattern on the daily chart.

Later today, we have the flash manufacturing PMI from Markit and new home sales.

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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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