The number of unemployment claims in the US ticked up from 364K (revised from 361K) to 366K. Expectations stood on 365K. So, no big surprise here. Continuing claims dropped from 3.336 to 3.305 million, also within expectations of 3.3 million. Housing starts slightly disappointed and slid to 746K from 754K last month and expectations for 757K. On the other hand, building permits rose to an annual level of 812K, from 755K last month and a consensus of 770K – this is a significant improvement. Building permits are the highest since August 2008 – just before Lehman. EUR/USD is reacting positively to this data rising above 1.23. USD/JPY also ticks up. It reached 79.40 before retreating. All in all, the positive news triggers a “risk on” reaction: a weaker dollar and even weaker yen – no flight to safety right now. With stable jobless claims at levels seen early in the year, and housing recovering after hitting a bottom, the incentive for more QE fell again. What could support QE3 is the inflation data from yesterday, showing another slowdown in price rises. Also manufacturing is quite weak. However, other US figures such as retail sales and the recent NFP are positive. Next up: The Philly Fed index for the manufacturing sector. See how to trade this event with USD/JPY. 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 Philly Fed Manufacturing Index Only Partially Recovers Yohay Elam 9 years The number of unemployment claims in the US ticked up from 364K (revised from 361K) to 366K. Expectations stood on 365K. So, no big surprise here. Continuing claims dropped from 3.336 to 3.305 million, also within expectations of 3.3 million. Housing starts slightly disappointed and slid to 746K from 754K last month and expectations for 757K. On the other hand, building permits rose to an annual level of 812K, from 755K last month and a consensus of 770K - this is a significant improvement. Building permits are the highest since August 2008 - just before Lehman. EUR/USD is reacting positively… Top 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.
