Initial Jobless Claims in the US advanced by 22,000 in the week ending May 6.

…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for FREE REGISTER to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level1)]

• Initial Jobless Claims in the US advanced by 22,000 in the week ending May 6.
• Continuing Jobless Claims increase by 12,000 in the week ending April 29.
• US Dollar Index drops after economic reports (Jobless Claims and PPI).

Initial Jobless claims totaled 264,000 in the week ending May 6, the weekly data published by the US Department of Labor (DOL) showed on Thursday. The print follows the previous week’s unrevised 242,000 and came in above market expectations of 245,000.

“The 4-week moving average was 245,250, an increase of 6,000 from the previous week’s unrevised average of 239,250. This is the highest level for this average since November 20, 2021 when it was 249,250.”

Continuing Claims increased by 12,000 in the week ended April 29 to 1.813 million, below the 1.82 million of market consensus. It is the lowest level in three weeks.

“The previous week’s level was revised down by 4,000 from 1,805,000 to 1,801,000. The 4-week moving average was 1,829,500, an increase of 2,250 from the previous week’s revised average. The previous week’s average was revised down by 1,000 from 1,828,250 to 1,827,250.”

The US Dollar dropped across the board following the April Producer Price Index and Jobless Claims reports. The DXY is still up for the day, but off highs hovering around 101.70.

[/s2If]
Nehcap Expert Advisor
The NEHCAP MT4 EA is high quality professional trading system geared to generate returns without using GRID or martingales. Each trade has strict risk per trade parameter. The pairs under management include EURUSD, GBPUSD, AUDCAD, AUDNZD,GBPAUD, EURAUD, EURCAD, CHFJPY and many more.
The system is trading live: LIVE ACCOUNT TRACKING
You can run it free. Apply for a free trial and track our account. Buy the system or use profit share mechanism to generate returns on your MT4.
Join Our Telegram Group