US jobless claims beat with 254K again, PPI strong –

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Better than expected figures all around: US jobless claims remain at a low of 254K. PPI rises 0.5% m/m and 0.3% y/y. Core CPI is up 0.4% and 1.3% y/y. All the numbers are above expectations.

The US dollar is very marginally higher against the euro with a halt to rises but the moves are not huge.

US jobless claims were expected to bounce back from last week’s low of 254K and hit 265K. This is about the time that the BLS conducts its survey for the NFP. Producer prices were expected to remain stable: a rise of 0.3% m/m after 0.4% last time and a repeat of -0.1% y/y. Core CPI carried expectations for +0.1% m/m after 0.3% last time and a cooling down from 1.2% to 1% y/y.

The dollar was slightly weaker, especially against the pound. The BOE left rates unchanged and wants to wait until next month’s QIR to make a decision. Also the euro was gaining with 1.1150 and USD/JPY continued suffering the talk about helicopter money.

More: see how to trade tomorrow’s US consumer confidence with EUR/USD.

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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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