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.

Free Trading Guides
EUR/USD
Mixed
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
Mixed
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
Wall Street
Mixed
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
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Mixed
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
More View more
Real Time News
  • Heads Up:🇫🇷 Inflation Rate YoY Prel due at 06:45 GMT (15min) Expected: 0.3% Previous: 0.3% https://www.dailyfx.com/economic-calendar#2020-05-29
  • 🇩🇪 Retail Sales YoY Actual: -6.5% Expected: -14.3% Previous: -2.8% https://www.dailyfx.com/economic-calendar#2020-05-29
  • The S&P 500 is approaching secondary breakout targets up here and the rally may be vulnerable heading into uptrend resistance. Get your S&P500 technical analysis from @MBForex here: https://t.co/21a20q3vt7 https://t.co/GgmPAcuTVe
  • Heads Up:🇬🇧 Nationwide Housing Prices YoY due at 06:00 GMT (15min) Expected: 2.8% Previous: 3.7% https://www.dailyfx.com/economic-calendar#2020-05-29
  • Heads Up:🇩🇪 Retail Sales YoY due at 06:00 GMT (15min) Expected: -14.3% Previous: -2.8% https://www.dailyfx.com/economic-calendar#2020-05-29
  • 🇯🇵 Housing Starts YoY Actual: -12.9% Expected: -12.1% Previous: -7.6% https://www.dailyfx.com/economic-calendar#2020-05-29
  • 🇯🇵 Consumer Confidence Actual: 24.0 Previous: 21.6 https://www.dailyfx.com/economic-calendar#2020-05-29
  • Heads Up:🇯🇵 Housing Starts YoY due at 05:00 GMT (15min) Expected: -12.1% Previous: -7.6% https://www.dailyfx.com/economic-calendar#2020-05-29
  • Heads Up:🇯🇵 Consumer Confidence due at 05:00 GMT (15min) Previous: 21.6 https://www.dailyfx.com/economic-calendar#2020-05-29
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.14%, while traders in US 500 are at opposite extremes with 78.47%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/RqW7nbBjB3
US Initial Jobless Claims Continue at Historic Levels, USD Gyrates

US Initial Jobless Claims Continue at Historic Levels, USD Gyrates

2020-04-16 12:50:00
Thomas Westwater, Contributor
Share:

US INITIAL JOBLESS CLAIMS, US DOLLAR – TALKING POINTS:

  • US initial jobless claims print 5245k Thursday morning
  • COVID-19 continues to plague US labor market
  • US Dollar ticking higher post-report

The US labor market continues to break down as the COVID-19 pandemic assails the economy. Initial jobless claims for the week ending April 11 crossed the wires at 5245k Thursday morning versus estimates of 5500k. The US dollar shifted modestly higher post-release, although, the USD basket remains off session highs and looks to be failing to follow through on any strength.

US DOLLAR BASKET (1-MIN CHART)

US Dollar Basket initial jobless claims

Source: IG Charts

Equity markets have treaded higher in recent weeks amid immense support from central banks and fiscal policymakers, but risks from the economic backdrop lingers. Markets may also be pricing in an economic recovery already as some see the current pandemic leveling off, however, many experts are still skeptical. Currently global cases of COVID-19 are just past the 2 million mark worldwide, and nearly 640k in the United States according to Johns Hopkins University.

US INITIAL JOBLESS CLAIMS

US initial jobless claims

Source: Bloomberg

Continuing claims also released this morning, revealing 11769k claims. This figure highlights the record number of US workers laid off in recent weeks remain without jobs. While the rise in continuing claims is unsurprising, it underscores the severity of the US labor markets posture. State stay-at-home orders will likely continue to hamper the economy through at least May, as currently expected.

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

DISCLOSURES

News & Analysis at your fingertips.