US Jobless Claims declines to 287 K , USD shines a little bit !

Initial Jobless Claims measures the number of individuals who filed for unemployment insurance for the first time during the past week. This is the earliest U.S. economic data, but the market impact varies from week to week.

Usual Effect: A high reading or a better than expected number is seen as negative  for the USD, while a low reading is postive.

Frequency : Released weekly, every Thursday.

Last Read : 288 K

Expectations : 294 K

Actual :  287 K

Volatility :   Medium  – High Volatility . ( varies from week to week ).

Market Impact :

We have 3 Scenarios for the USD : 

  • Scenario 1 : A reading between (282 K : 300 K ) , will bring sideways move with possible to break higher..
  • Scenario 2 : A reading below 282 K , will bring bullish move for the USD , could break 1 or 2 levels higher .
  • Scenario 3 : A reading above  300 K, will bring bearish move for the USD , could test 1 or 2 support levels before the next rise ..

Scenario 1 and 2 are not important since actual release is 287 K…..

EURUSD :

Trend direction : downward (Recovery Mode ) .

Support and resistance : 1.2622 , 1.2667 , 1.2718 , 1.2785 , 1.2825 , 1.2930 . 1.3000

Market Impact : Expected range( 1.2720 – 1.2785 ) with a small chance to break one level down. …

GBPUSD :

Trend direction : downward (Recovery Mode ).

Support and resistance :1.6052 , 1.6116 1.6173 , 1.6225 , 1.6300

Market Impact : Expected range ( 1.6173 – 1.6225 ) with a small chance to break one level down. ..

AUDUSD :

Trend direction : downward (Recovery Mode ).

Support and resistance :0.8700 , 0.8772 , 0.8833, 0.8900 ,  0.8950 , 0.9000

Market Impact : Expected range ( 0.883 : 0.8900 ) with a small chance to break one level down. ..

 

MARKET DATA

UPCOMING ECONOMIC EVENTS