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.

0

Notifications

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

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Bullish
Wall Street
Mixed
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • Commodities Update: As of 15:00, these are your best and worst performers based on the London trading schedule: Gold: 0.01% Silver: -0.22% Oil - US Crude: -0.93% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/cZeVIxiAJm
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 93.32%, while traders in NZD/USD are at opposite extremes with 75.03%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/fmCBX0W0w3
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Gold: 0.07% Silver: -0.21% Oil - US Crude: -0.93% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/MBlfthkrSp
  • Heads Up:🇲🇽 Monetary Policy Meeting Minutes due at 15:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-11-26
  • What are some key influences Black Friday has on the economy and stock markets? Find out: https://t.co/KIsvaIWZDN https://t.co/NS7o4MrEok
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.06% US 500: 0.04% Wall Street: 0.01% France 40: -0.03% FTSE 100: -0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/zTLPlL868T
  • 🇨🇦 Average Weekly Earnings YoY (SEP) Actual: 6.9% Previous: 7.9% https://www.dailyfx.com/economic-calendar#2020-11-26
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 93.45%, while traders in NZD/USD are at opposite extremes with 74.75%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/rb0KHIpnDO
  • Forex Update: As of 13:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.22% 🇨🇦CAD: 0.04% 🇨🇭CHF: -0.02% 🇳🇿NZD: -0.11% 🇪🇺EUR: -0.11% 🇬🇧GBP: -0.26% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/LZMBGAenik
  • Heads Up:🇨🇦 Average Weekly Earnings YoY (SEP) due at 13:30 GMT (15min) Previous: 7.9% https://www.dailyfx.com/economic-calendar#2020-11-26
US Dollar Rises on Historic Jobless Claims

US Dollar Rises on Historic Jobless Claims

2020-03-26 12:29:00
Thomas Westwater, Contributor
Share:

Jobless Claims Talking Points:

  • USD rises on staggering 3.2 million initial jobless claims
  • Jobless claims offer first sign of the economic fallout from Covid-19
  • Stimulus package in Senate now headed to House

US jobless claims hit historic levels Thursday morning as Covid-19 takes its toll on the US economy. For the week ending March 21st, initial jobless claims crossed the wires at 3.2 million, up sharply from the week before at 281k. The US Dollar, which has recently pulled back from three-year highs on strength from the global pandemic, saw a bounce as the figure crossed the wires. Continuing claims also pointed to trouble with 1.8 million, rising from the previous week of 1.7 million.

US Dollar Basket (1-Min Chart)

US Dollar jobless claims

Source: IG

The staggering figure in initial jobless claims this morning is one of the first economic data points that highlights the capriciousness in economic decline due to covid-19. However, these numbers are unlikely to affect next week’s jobs report due out on Friday, with the cutoff for the household survey ending on March 14th. Still, the sharp rise in initial claims is likely to put an even gloomier tone on expectations for economic data in the coming weeks.

Jobless claims versus median estimate

Jobless claims virus
Building Confidence in Trading
Building Confidence in Trading
Recommended by Thomas Westwater
Building Confidence in Trading
Get My Guide

Policy makers have been scrambling to combat the economic fallout anticipated from covid-19, which now sees the United States with over 69 thousand confirmed cases and over 1,000 deaths. Policy makers on Capitol hill passed a $2 trillion stimulus package Wednesday night, which now heads to the House for approval before going to the President.

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

DISCLOSURES