Another unimpressive US jobs figure this week: jobless claims rose to 315K, above last week’s revised 304K. Continuing claims rose are at 2.487 million. The 4 week moving average has now moved up to 304K. The data is drifting away from the 2006 lows.
The dollar is sliding in a wide but not deep manner: EUR/USD is now edging towards 1.2940.
The US weekly unemployment claims were expected to remain at similar levels to 302K reported last week before revisions. This weekly barometer is currently above the multi-year lows. Continuing claims carried expectations for a small rise from 2.464 million to 2.48 million this time.
The disappointment joins a not so impressive JOLTS figure earlier in the week as well as the short fall in Non-Farm Payrolls on Friday.
Before the publication, EUR/USD traded around 1.2930, GBP/USD around 1.6250 and USD/JPY just under 107.
The euro has been trading more steadily ahead of Draghi’s speech. The pound staged a recovery as the most recent poll regarding Scotland showed a more solid majority for the No vote.
Tomorrow we have additional US figures: retail sales and the UoM Consumer Confidence. See how to trade the consumer sentiment with EUR/USD
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