1:34 PM · 7 August 2025

Jobless Claims above expectations; EURUSD ticks higher 💡

US Initial Jobless Claims (W/W) 2-Aug: 226K (est 222K; prev 218K; prevR 219K)

US Unit Labour Costs Q2 P: 1.6% (est 1.5%; prev 6.6%)

Nonfarm Productivity: 2.4% (est 2.0%; prev -1.5%)

The slightly higher-than-expected number of unemployment claims is the latest reading in a row pointing to a weakening US labor market. This is also why we're seeing a rising EUR/USD response as investors increase the likelihood of a faster Fed interest rate cut.

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