US Initial jobless claims will be announced on Thursday at 15:30 MT time.
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.
The US dollar has broken through the key resistance, it failed to cross since March so far. Riskier assets are dipping. Let’s discuss it in detail.
Services and Manufacturing PMIs are out on Wednesday at 11:30 MT time.
China’s Manufacturing PMI will be out on Wednesday at 04:00 MT time!
China's industrial rebound, progress in US fiscal stimulus and other important news in this article.
The market sentiment is mixed as investors weigh US stimulus package against the rising infections and worse-than-expected US unemployment claims. Jump in for fresh analysis of EUR/USD, USD/JPY, S&P 500 and gold!