Amid an Increase in Initial Jobless Claims, USD Continues Recovery

Azeez Mustapha

Updated:

Unlock Daily Forex Signals

Select a Plan

£39

1 - month
Subscription

Select

£89

3 - month
Subscription

Select

£129

6 - month
Subscription

Select

£399

Lifetime
Subscription

Select

£50

Separate Swing Trading Group

Select

Or

Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored
Checkmark

Service for copy trading. Our Algo automatically opens and closes trades.

Checkmark

The L2T Algo provides highly profitable signals with minimal risk.

Checkmark

24/7 cryptocurrency trading. While you sleep, we trade.

Checkmark

10 minute setup with substantial advantages. The manual is provided with the purchase.

Checkmark

79% Success rate. Our outcomes will excite you.

Checkmark

Up to 70 trades per month. There are more than 5 pairs available.

Checkmark

Monthly subscriptions begin at £58.


The dollar is climbing moderately today despite the first increase in jobless claims in five weeks. Euro and Swiss franc are followed closely. The global markets are still undergoing consolidated trading, with moderate weakness in European equities and US futures. The Australian dollar is pushing the New Zealand dollar down.

However, there is no clear development in the forex market yet. Most major pairs and crosses remain within last week’s range. A breakthrough is still expected. Consolidation trading continues with the dollar as whole rallies during today’s session, followed by the Swiss franc. On the other hand, the pound sterling is partly pulling back this week’s gains, along with the Aussie and the Kiwi.

News about coronavirus vaccines failed to cheer investors up. Instead, there is growing concern about new infections and restrictions around the world. However, in general, major pairs and crosses are limited by last week’s range.
US Initial Jobless Claims Increases to 742k, Continuing Claims Plunged to 6.37m
The latest wave of COVID and renewed efforts to combat its spread are putting pressure on the labor market recovery. The number of jobless claims in the US will remain at around 700,000, indicating stabilization after a gradual decline, but closures and restrictions could trigger a second wave of layoffs.

The number of initial applications for unemployment benefits in the United States increased from 31,000 to 742,000 in the week ended November 14, which is higher than expectations of 707,000. The four-week moving average of initial filings fell 14 thousand to 742 thousand. For the week ended November 7, the number of ongoing claims fell from -429 thousand to 6372 thousand.

The number of applications is likely to remain high amid the latest wave of COVID, and the number of long-term unemployed will rise. Also in the US, the PM Index fell to 26.3 in November from 32.3, but beat expectations of 24.0. In Canada, employment in the ADP fell by -7.5 thousand in October.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Leave a Reply

Your email address will not be published. Required fields are marked *