US Jobless Claims continue to decline

The number of Americans filling for unemployment benefits was 0.963 million in the week ended August 8th, after 1.19 million in the previous period, bringing total claims to near 56.3 million since March 21st when the coronavirus pandemic started in the US. Today’s reading came in below market expectations of 1.12 million and showed the lowest level since the coronavirus crisis began. This might be a sign that the labour market might start recovering from the coronavirus pandemic hit.

Continuing claims, which lags initial jobless claims data by one week, reach 15.48 million, while analysts expected a drop to 15.89 million.

EURUSD - pair fell slightly after today's data releases and is heading towards 1.18 support level. Source:xStation5

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