US Weekly Jobless Claims: 372K – A Small Disappointment

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The number of initial jobless claims in the US now stands at 372K . A level of 355K was expected after last week’s 350K (before revisions).

EUR/USD remains on the defensive around 1.31, USD/JPY is a bit higher. It’s important to note that this rise could have been due to the holiday season, and that this is a weekly, volatile indicator.

Update: See how to trade the Non-Farm Payrolls with EUR/USD.

Earlier, ADP reported a very impressive gain of 215K jobs in the private sector, raising hopes for a positive Non-Farm Payrolls report in the last month of 2012. The Challenger jobs cuts indicator was also positive, dropping 22.2%.

In addition, the ISM Manufacturing PMI’s employment component also showed a return to growth. A “whisper number” of over 200K will probably be heard in trading rooms.

Further reading: 5 Most Predictable Currency Pairs – Q1 2013

More in-depth data about the jobless claims indicator:

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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 the 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.