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
Economic calendar: ADP report and PMI data from Europe 🔎
Morning wrap (06.05.2026)
Economic calendar: US Services ISM and JOLTS report in focus
💶Eurozone Industry: A Fragile Recovery Masking Stagflationary Risks