EURUSD remains within Wed’s range
|EURUSD, H1
The dollar was slightly up. following the in-line jobless claims outcome, and the stronger than expected Philly Fed index. However, EURUSD is virtually unchanged at 1.2375, while USDJPY edged up a few points to 107.40, before closing the hourly session at 107.30. Equity futures continue to indicate a modestly lower Wall Street open, while yields are marginally firmer.
U.S. initial jobless claims dipped 1k to 232k in the week ended April 14 after falling 9k to 233k in the prior week. That brought the 4-week moving average to 231.25k from 230k. Continuing claims declined 15k to 1,863k in the April 7 week following the 60k jump to 1,878k in the last week of March. This week’s jobless claims numbers take on a little more significance since they correspond to the BLS survey week.
U.S. Philly Fed manufacturing index, on the other hand, edged up 0.9 points to 23.2 in April after sliding 3.5 points to 22.3 in March. The index is down from the 28.8 recent high from October, and the 35.5 two-year peak from May. The index has held solidly above 20, however, since November 2016. The employment component rose to 27.1 from 25.6, and is the highest since 30.7 in October, with the workweek rising to 21.6 from 12.8. But new orders dropped to 18.4 from 35.7. Price paid climbed to 56.4 from 42.6, with prices received at 29.8 from 20.7. The current data are better than expected, and the climb in the price may unnerve bond bulls further, though the declines in the 6-month outlooks, perhaps a function of trade war fears, could offset slightly.
There's more! Access all our latest analyses and other great content by subscribing to the HotForex Youtube channel. You can also talk to our experts live by registering for one of our free webinars!
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.