BREAKING: US Jobless Claims above expectations

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The number of Americans filling for unemployment benefits was 0.840 million in the week ended October 3rd, compared to 0.837 million in the previous week, bringing total claims above 62.0 million since March 21st when the coronavirus pandemic started in the US. Today’s reading came in above market expectations of 0.820 million. It is the sixth consecutive week with claims below 1 million, however today’s reading still remains far above 665,000 filed at the peak of the Great Recession in March 2009.

Continuing claims reading, which lags initial jobless claims data by one week, reach 10.976 million, while analysts expected a drop to 11.4 million. Source: Macrobond, XTB

EURUSD - pair broke below the 50 SMA (green line) after today's data releases and may be heading towards 1.1736 support level. Source:xStation5

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