Tag: us unemployment claims
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Today, traders should pay close attention to the release of the U.S. Unemployment Claims report. This indicator always produces extreme market volatility in the major currency pairs. Traders may find good opportunities to enter the market following this vital announcement at 13:30 GMT. Summary USD - USD Down Following FOMC Meeting Minutes EUR - EUR Rallies against Dollar and Yen JPY - Yen Free Fall Continues Crude oil - Crude oil Rises on Weak Dollar
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The U.S. Unemployment Claims and U.S. Core CPI data are set to drive forex trading today when they are released at 12:30 GMT. If strong economic data continues to be published from the U.S, U.K and Europe today, combined with strong equity performances this may continue to lead to a sell-off of safe haven currencies today, and push investors to higher yielding, riskier currencies as many see the global recession coming to an end. This could also push Crude Oil to the $77 price level. Summary USD - Dollar Falls to a 14-Month Low EUR - EUR Rises on Increased Optimism JPY - Yen Loses Ground on All Fronts Crude Oil - Crude Oil Rises Above $75 a Barrel
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The U.S. Unemployment Claims is the primary publication today that is set to determine the level of the USD when it is released at 12:30 GMT. The other main releases that are set to dominate forex trading, especially for currencies such as the Dollar and EUR is the publication of the Services PMI for Britain at 08:30 GMT, the EUR Minimum Bid Rate at 11:45 from the Euro-Zone, and the ISM Non-Manufacturing PMI from the U.S. at 14:00 GMT. What are you waiting for traders! Open your positions in the USD, EUR, GBP, and AUD now. Dollar Bearishness Dominates Ahead of Unemployment Claims Report! It seems that prior to today's crucial data releases from the U.S. in the next several hours, the USD has already tumbled considerably. The Unemployment Claims at 12:30 GMT is set to DRIVE the USD's trend today. The ISM Non-Manufacturing PMI figures from the U.S. are also expected to be in the minds of forex traders when it is published at 14:00 GMT. This is very important, as the figure is expected to be higher than previous month's readings. Therefore, a lower figure than 48.3 could lead to an even more bearish USD later on today. Thus far today, the GBP/USD cross is trading higher, as the pair attempts to reach the 1.6400 level later today. The EUR/USD cross is still attempting to make amends by pursuing an upward correction. The pair currently stands at the 1.4300 level, and the pair seems to be moving upwards. In order to take advantage of the current downward breech in the Dollar, it may be wise to open sell positions in the USD. Moreover, you should open large USD and EUR positions now as the upcoming EUR Minimum Bid Rate release at 11:45 GMT is set to lead to high volatility in the forex market. Summary USD - USD Setback Caused by Market Uncertainty EUR - Euro-Zone Interest Rate Decision Today at 11:45 GMT JPY - Yen Continues to Gain from Risk Aversion Crude Oil - Commodities Spike, but Crude Oil Remains Flat
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