1:36 PM · 26 March 2020

BREAKING: US jobless claims surge above 3 million!

Long-awaited US jobless claims data has been just released. The report showed a massive increase to 3283k from 281k last week. This is the highest reading on the record and is much higher than the peak from the global financial crisis period (650-700k). This is also the first hint on how the looming recession may look like. EURUSD pulled back on the release. US500 dipped in a knee-jerk move but recovered later on.

EURUSD dipped on the release of a disastrous jobless claims data. Source: xStation5

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BoE keeps rates unchanged and issues a dovish statement, thereby weakening the GBP⬇️

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