US Jobless Claims Impressive Again, Dollar Corrects Higher

US Jobless Claims Impressive Again, Dollar Corrects Higher

By: Oliver Miller | Where To Trade | On:9-10-2014 08:54
Back

Key Highlights

  • US initial jobless claims released by the US Department of Labor registered a decline from 288K to 287K.
  • Similarly, the US continuing jobless claims released by the US Department of Labor registered a decline from 2.402M to 2.381M.
  • Canadian New Housing Price Index (NHPI) released by the Statistics Canada registered an increase of 0.3%, compared with no gain in the previous month.
  • German trade balance released during the London session missed the mark and registered a softer than expected reading of €17.5B.
  • Bank of England announced interest rates and kept it as it is at 0.5%. There was also no change in the asset purchases as expected.
  • GBPUSD climbed a touch higher above the 1.6200, but post jobless claims traded lower.

 

US Initial Jobless Claims

Earlier during the start of the NY session, the US initial jobless claims were released by the US Department of Labor. The market was expecting the advance figure for seasonally adjusted US initial jobless claims to rise from 287K to 294K in the week ending October 4. However, the outcome was very positive, as the jobless claims declined from the previously revised reading of 288K to 287K. So, there was no rise in the US jobless claims. The advance seasonally adjusted US continuing jobless claims for the week ending September 27 also declined from 2.402M to 2.381M. This was on the positive side, and the US dollar was also seen trading higher after the release.

Where To Trade - US IJC 09-10-2014

The Canadian New Housing Price Index (NHPI) was the next release by the Statistics Canada. The market was expecting an increase of 0.1%, up from the flat reading in July 2014. However, the outcome was a bit better than expected, as the Canadian NHPI rose by 0.3% in August 2014. The report mentioned that the combined metropolitan region of Toronto and Oshawa was the top contributor to the August growth. When we consider on a year-over-year basis, then the Canadian New Housing Price Index (NHPI) climbed by 1.5% in August 2014, compared to the same month of the previous year.

 

BOE Rate Decision

There was an important release during the London session. The Bank of England announced interest rates and asset purchases program. There was no major change expected from the BOE. The outcome was also as expected, as the BOE kept the interest rates unchanged at 0.5%. The central bank also kept the stock of purchased assets financed by the issuance of central bank reserves at £375 billion. So, there was no change basically.

The GBPUSD pair traded a touch higher above the 1.6200 area, but it looks like buyers failed to gain momentum above the mentioned area. As of writing, the pair is trading back below the 1.6200 and heading towards the 1.6150 level. There is a major support around the mentioned level, as it acted as a resistance and support on a number of occasions. On the upside, a daily close above the 1.6210 level might call for more gains in the near term.

Oliver Miller

Oliver Miller

"Patience is the key for success"

Oliver Miller is one of the best financial analyst with 18 years of online trading experience

EURUSD Slow and Steady Uptrend

EURUSD Slow and Steady Uptrend

By: Ben Myers | Where To Trade | On:02-05-2015 11:21

Euro traded higher versus the US Dollar Intraday, and registered a new weekly high as buyers were optimistic after a report which points that better growth is possible in the Euro Area.

Euro Above 1.1200 And Looks Set For More Gains

Euro Above 1.1200 And Looks Set For More Gains

By: Simon Furman | Where To Trade | On:30-04-2015 11:11

Euro continued to gain momentum against the US dollar as the latter one weakened recently, which means there is more room for gains in the EURUSD pair.

EURUSD Moved Above 1.1000, Eyes a Test of 1.1040

EURUSD Moved Above 1.1000, Eyes a Test of 1.1040

By: Oliver Miller | Where To Trade | On:29-04-2015 11:06

UK Nationwide Housing Prices highlighting the value of the houses prices in UK and indicate current movements in the housing market posted an increase of 1% in April, compared to the preceding month.

EURUSD Looks Set To Break 1.0920

EURUSD Looks Set To Break 1.0920

By: Darryl Frankfort | Where To Trade | On:28-04-2015 10:53

Euro managed to gain bids during the London session against the US dollar, and it looks like the pair might break the recent high of 1.0920 to trade close to the 1.0950 level.

FX Market Continues To Consolidate Post Dollar Losses

FX Market Continues To Consolidate Post Dollar Losses

By: James Ansher | Where To Trade | On:27-04-2015 10:46

US dollar continued to weaken against a few currencies and managed to recover some ground against currencies like the Euro and the British Pound

StockPair

Press Release

YesOption Voted Best Technical Analysis by DailyForex

YesOption Voted Best Technical Analysis by DailyForex

August 12, 2014 - London, UK, - Leading online forex and binary options trading platform - www.yesoption.com has once again made the news by being awarded the prestigious award of ‘Best Technical Analysis of 2014’ ...
24option binary options broker review

24option binary options broker review

Plus500Findings.com is recently launched online to help traders decide which broker they could open an account. 24Option, one of the popular trading platform online is reviewed whether it is legitimate broker or scam. This reviews and findings are of great benefits for traders, especially for those novice ones, who are just starting in the trading industry. ...
Banc De Binary Expands Investment Research Service

Banc De Binary Expands Investment Research Service

Leading Investment Firm, Banc De Binary, which specializes in binary options trading, has added a new weekly video series and trading webinars to the investment research service that it provides to its clients. ...

Articles

Citigroup Inc. is to pay $25 million amends

Citigroup Inc. is to pay $25 million amends

Citigroup accepted to pay the amends without denying the accusation ...
Netflix added 7.1 million new subscribers

Netflix added 7.1 million new subscribers

Netflix Inc. managed to add in the last quarter of 2016 more subscribers than expected ...
The Federal Reserve Chair Janet Yellen is set to have another speech on Thursday

The Federal Reserve Chair Janet Yellen is set to have another speech on Thursday

On Wednesday, Federal Reserve Chair Janet Yellen spoke about the interest rates and about the United States' economy ...
StockPair

Featured Listings