Early expectations stood on 387K. This is a very low level, last seen a long time before the financial crisis. Â The moving average is also lower.
Last week’s number was revised upwards, from 399K to 402K, making it a one time bump in the overall trend of drops in jobless claims and making the week over week drop huge: 50K.
EUR/USD ticks down to 1.29, retreating from higher ground it reached after breaking the 1.2873 resistance line earlier. Update: the losses have been erased and the pair is rising on risk averse trading.
USD/JPY remains unchanged.
Update: The Philly Fed Index scored 7,3 points, with a strong employment component.
This news provides hope for the next Non-Farm Payrolls report even though January is known for volatility.
US CPI remained unchanged, while Core CPI rose by 0.1%. All in all, inflation in 2011 stood on 3%, as expected.
The trend is similar to PPI. US Building Permits stand on a pace of 0.68 million, as expected. Housing starts are at 0.66 million, lower than 0.69 expected.
PPI figures released yesterday showed that core prices are on the rise, +0.3%, while the headline figure is dropping by 0.1%. This is quite mixed.
Another big release is still awaiting us: the Philly Fed Manufacturing Index for January. The fresh figure will show if the expiration of tax incentives really made a difference for December.
See how to trade this event with USD/JPY.
