Summary:
- Solid prints from the US housing and labour market
- Philly Fed index surges to 16.6 pts
- USD gains in the aftermath of the release
A pack of the US data has been released at 1:30 am BST, including housing and labour market data. The initial jobless claims reading came in at 212k, below expected 220k and previous 228k. Housing market data also surprised to the upside. Housing starts print showed 1235k against an expected 1209k while building permits came in at 1296k against expected 1269k. Note that both previous readings were revised slightly higher. Apart from that, we got another major positive surprise from the regional index. Yesterday NY Empire index jumped from 10.1 pts to 17.8 pts while today Philly Fed index came in at 16.6 pts against forecasted 10 pts. The overall tone of the datapack can be viewed as USD-positive and this is also the reaction that we are observing on the market. Beat in April’s housing market data is especially pleasing after yesterday April’s retail sales release turned out to be a disappointment.
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile app
EURUSD moved sharply lower in the aftermath of the US data release. The main currency pair dipped below the 1.12 handle in a knee-jerk move and touched support zone ranging 1.1182-1190. Source: xStation5
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
