According to our analysis USDJPY and EURUSD moved 24 pips on US Jobless Claims data on 8 February 2024.
USDJPY (19 pips)
EURUSD (5 pips)
Charts are exported from JForex (Dukascopy).
The latest report on unemployment insurance weekly claims, released on February 8, 2024, indicates a decrease in the number of initial jobless claims and a slight improvement in the U.S. labor market conditions. For the week ending February 3, the seasonally adjusted initial claims fell by 9,000 to 218,000 from the previous week's revised level. The 4-week moving average, which smooths out weekly volatility, increased slightly to 212,250. The seasonally adjusted insured unemployment rate decreased to 1.2% for the week ending January 27, with a corresponding decline in the number of people receiving unemployment benefits to 1,871,000.
Unadjusted data also showed a decline in initial claims, totaling 232,727, which is an 11.8% decrease from the previous week. The unadjusted insured unemployment rate stood at 1.4%, with a year-over-year comparison indicating a stable labor market. Regionally, the highest unemployment rates were in New Jersey, Rhode Island, and Minnesota, among others, with notable increases in initial claims in Oregon, California, and New York, and significant decreases in Illinois, Missouri, and Massachusetts.
This report suggests a resilient labor market, with fluctuations in unemployment claims reflecting normal economic adjustments rather than a significant downturn.
Source: https://www.dol.gov/ui/data.pdf
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