The US dollar surged yesterday after the positive US data, but turned down today. Jump in to get a market wrap!
US jobless claims are coming out
The USA will publish unemployment claims on October 22 at 15:30 MT time. How to trade after the release?
Instruments to trade: EUR/USD, USD/CAD, USD/JPY, GBP/USD
US jobless claims are released every week. They reveal the number of people who lost their jobs and filed for benefits during the previous week. Million Americans are coming back to work after the coronavirus lockdown, but for nearly 13 million unemployment has become permanent. However, the situation is getting better. If we look at the graph below, we will notice that fewer and fewer people are asking for jobless benefits after a huge spike in April, but the numbers are still considerably higher than the pre-pandemic levels. Democrats and Republicans continue discussing the new fiscal stimulus package. They have already agreed on $1 200 stimulus checks for households, but Trump prolonged talks until after the election. Keep an eye on the release and follow the rules below.
- If jobless claims turn out better than expected, the USD will rise.
- If claims are worse – the USD will fall.
Australian Private Capital Expenditure will be out on Thursday at 2:30 MT time!
Oil jumped to March high, stocks are heading to record highs, while the US dollar is on the back foot.
News geeks get ready for the chain of US reports, which starts at 15:30 MT time on November 25!