Weekly US employment: a chance for the USD

Weekly US employment: a chance for the USD

What will happen?

The United States will release the weekly Unemployment Claims on October 21, at 15:30 MT time (GMT+3). This indicator shows the number of individuals who filed for unemployment insurance for the first time during the previous week.

Why is it important?

This release provides the freshest insight into the situation in the US labor market. Based on its change, traders may suggest the level of the next non-farm payrolls.

In the picture below, you can see how better-than-expected figures affected the US dollar. 

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How to trade on the US Unemployment Claims?

To trade on this economic release, check the calendar on the FBS website.

  • If the Unemployment Claims are smaller than the forecasts, the USD will strengthen;
  • Alternatively, the USD will weaken.

Check the economic calendar

Instruments to trade: EUR/USD, GBP/USD, USD/JPY

TRADE NOW

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Don’t waste your time – keep track of how NFP affects the US dollar and profit!

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