After a worrying week when jobless claims jumped to 388K (revised up from 385K), they fell back down all the way to 346K, also exceeding expectations for a drop to 360K.
These levels are still not as good as the 330s seen beforehand, but the number indicates that the leap was a one off event and not a depressing turn of events – a continued slow recovery rather than signs of recession if you wish.
EUR/USD is now trading at 1.31, off the previous highs of around 1.3140. Also GBP/USD is trading lower.
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USD/JPY, which would rally on such news, is still retreating from the 100 level it failed to conquer.
US import prices dropped by 0.5%, within expectations for a drop of 0.4%. Tomorrow, the University of Michigan will release its consumer sentiment figure. See how to trade the consumer sentiment number with USD/JPY.
