What to expect from the US unemployment claims
The US unemployment claims figures are about to be released shortly. They are expected to come out a bit higher than previously, at 167k versus 159k last month. That is above last month’s figures but it still is a good number. Anything below 300k is considered a good number.
This particular piece of data has been a market mover in the recovery years after the 2008 financial crises, but in the last couple of years the importance of it has declined because the US employment sector has been pretty solid. That said, the big miss in the employment change last month has placed this data back on the spotlight.
So, if the unemployment claims come out near 300k it will spark a wave of USD selling because the forex market will fear that the employment sector I in trouble. If the numbers come out at these levels or lower, then it will definitely be positive for the US Dollar. That said, you better price in other factors as well such as the EU leaders summit.
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