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US Jobless Claims - Another Notch Down

Job data is indeed improving for the US economy. If it continues we might start to see some resilience to the USD which has been sliding recently.

Today, the Department of Labor reported 304K jobless claims in the past week. This is a notch lower than the 315K in the previous week, and beat forecasts around a 316K reading.


(source: forexfactory.com)


The decline reminds us of the declining trend in jobless claims since its height in 2009 as you can see in the historical chart above. The lower jobless claims is accompanied by positive jobs data of late, but has not translated to a strong USD. Perhaps if jobless claims dip below 300K for a couple of weeks, market participants will put more focus on the positive jobs data. 

Official Jobless Claims report