Unemployment Claims Up Next Today’s US data will take on greater importance in the wake of the recent slew of Fed comments we’ve heard over the last week. With a notable hawkish shift in sentiment, USD has been on the front foot as traders continue to anticipate forthcoming tapering. Chairman Powell this week noted that although inflation has become much more of an issue recently, employment is still far from maximal levels (created an obstacle to tightening). With this in mind, today’s weekly unemployment claims will be closely watched. If the data beats expectations, expect the USD rally to continue. If we see a miss (mostly a significant one), USD is likely to be blunted into the end of the week.Where to Trade US Unemployment Claims?EURUSDEURUSD has been under heavy selling pressure this week with price breaking down below the 1.1703 and 1.1612 levels. With both MACD and RSI giving bearish signals here, there is room for a continuation of the bearish channel on any USD upside today, with the 1.1495 level (and bear channel low) the next target for bears.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/market-spotlight-trading-us-unemployment-claims"
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