Data on applications for unemployment benefits in the US
- The number of initial applications for unemployment benefits in the US is 234K, the forecast is 220K.
The number of applications for benefits increased for the second week in a row, thereby updating the maximum value of May. In the conditions of restraind dynamics and uncertainty of the market, this news became an incentive for the resumption of sales of the American currency. At the same time, the dynamics of this indicator continues to be invested in a downward trend, which is likely to put short-term pressure on the US dollar.
Fig. 1. Applications for benefits in the US
In this case, this event can act as a trigger for increasing pessimism on the dollar index and resume the downward dynamics. The US dollar index continues to trade near support of 93.80, I limit myself to more significant levels: 93.60 and 93.40.
Fig. the US dollar index. The current price is 93.80 (the yield of 10-year government bonds is a blue line)
Also, read: “Euro (EUR) – Features of trading on crosses”
Hanzenko Anton