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 positive.
Frequency: Released weekly every Thursday .
Last Read :266 K
Expectations : 282 K
Actual : 283 K
Volatility : varies from week to week .
Trend direction : Upward
Market Impact : a reading between 266 K : 299 K , will bring sideways move within support and resistance range with possible to break higher.
Recommendations : buy USD on dips …
Technical outlook for USD-INDEX : The USDINDEX maintained a bullish momentum yesterday , printed support at the 85.30 levels .This developed leaves the pair targeting the 86.10 levels where a breach is likely , If seen , focus will be on the 86.85 levels.
On the downside , support comes at the 85.30 levels , losing this level on a daily closing basis will turn outlook neutral for retesting the 84.52/84.32 levels before the next rise…
In all , as long as support 85.30 holds on a daily closing basis , outlook in USDINDEX remains on the upside towards the 86.10 /86.85 levels , below the 85.30 levels will reverse risk towards the 84.52/84.30 levels before the next rise ..