BREAKING: USD weakens after claims and Philly Fed data

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The number of Americans filling for unemployment benefits was 0.286 million in the week ended January 15, compared to 0.230 million reported in the previous week. Today’s reading came in well above market expectations of 0.220 million.

Continuing claims reading, which lags initial jobless claims data by one week, rose to 1.635 million from 1,559 million, while analysts expected an increase to 1.580 million.

Philly Fed Business Conditions in the United States increased to 28.70 points in January from 19.0 points in December, above market estimates of 19.5 rise.

EURUSD is trading higher today and today’s data provided more fuel for bulls. The main currency pair is currently approaching earlier broken lower limit of the ascending channel. Source: xStation5

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