Forex Market News 2020

The US labor market is in focus again – FBS

The United States will publish a weekly update on unemployment claims on July 9, at 15:30 MT time.

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

Once a week, the US Department of Labor publishes how many people filed for unemployment insurance. This is the most recent update on the employment data in the United States. Despite quite optimistic NFP last week when the indicator increased by 4 800K (vs. the forecast of 3 037K), the weekly unemployment claims for July 2 reached a higher level than expected. While analysts anticipated it to increase by 1 350K, the actual figures showed a rise of 1 427K.

  • If the actual level of unemployment claims is lower, the USD will rise;
  • If the actual level of unemployment claims is higher, the USD will fall.

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