News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
Better Initial Jobless Claims Fail to Spur Market Reaction

Better Initial Jobless Claims Fail to Spur Market Reaction

: Jonathan DePaolis,

THE TAKEAWAY: US Initial Jobless Claims (JUL 12) > 334K versus 345K expected, from 358K (revised lower from 360K)> USDJPY Neutral

US Initial Jobless Claims for the week ended July 13 showed a downward revision, with the weekly print declining to 334K following a 358K (revised) advance the week prior. This downward tick beat Bloomberg median forecasts of 345K, with the headline coming in at its lowest level since the first week of May.

This downturn in Initial Claims may correlate with a strengthening US economy, as the number of individuals seeking to receive state unemployment benefits is declining. Consequently, this data may add conviction to the Federal Reserve tapering asset purchases as this is a step further in achieving their unemployment mandate.

USDJPY 1-Minute Chart: July 18, 2013

Better_Initial_Jobless_Claims_Fail_to_Spur_Market_Reaction_body_Picture_1.png, Better Initial Jobless Claims Fail to Spur Market Reaction

Following the release, the USDJPY remained relatively stable increasing roughly +11 pips to 100.314. Currently, the pair seems to be consolidating around the 100.300 handle as it remains in an upward trend from early this morning.

--Written by Jonathan DePaolis, DailyFX Research

To contact Jonathan DePaolis, send inquiries to

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.