Weekly US employment data: chances for the USD

Weekly US employment data: chances for the USD

The United States will release unemployment claims on August 20, at 15:30 MT time.

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

We continue to closely follow the situation with US employment. The release of US unemployment claims provides us an overview of the current situation in the labor market of the biggest economy. It is the number of people who applied for unemployment insurance for the first time during the past week. Judging by these figures, analysts may suggest what the next NFP release is going to be. Last week, the actual level of unemployment claims came out lower than the forecast of 1 410K. The data showed 1 186K people filed for unemployment benefits. This time analysts expect an even lower number of people (1 120K).

  • If the indicator is higher than the forecasts, the USD will fall;
  • If the indicator is lower than the forecasts, the USD will rise.

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