BREAKING: Disappointing US claims and Philly Fed data

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The number of Americans filling for unemployment benefits was 0.251 million in the week ended July 16, compared to 0.244 million reported in the previous week. Today’s reading came in well above market expectations of 0.240 million.

Continuing claims reading, which lags initial jobless claims data by one week, increased to 1.384 million from 1,331 million, while analysts expected increase to 1.340 million.

Philly Fed Business Conditions in the United States plunged to -12.30 points in July from -3.3 points in June, well below market estimates of -0.1 drop.

EURUSD is trading higher after ECB decision and fresh US data provided more fuel for bears. The main currency pair is approaching a short-term resistance zone in the 1.02750 area. Source: xStation5

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BREAKING: Disappointing US claims and Philly Fed data

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