BREAKING: US jobless drop below 400k, EURUSD little changed

US jobless claims data showed 364 thousand Americans filling for the unemployment benefit in the week ended on June 26th. This is a slightly lower reading than 385k expected by the markets. This is also the first time in 3 weeks that jobless claims came in below 400k. Continuing claims increased from 3,390k to 3,469k, while the market expected a drop to 3,340k. Overall, the report does not point to any major changes on the US labor market. Having said that, investors should not be surprised to learn that there were no major market moves triggered by the release. US data at 3:00 pm BST, especially manufacturing ISM, may have a bigger impact on the markets.

EURUSD dropped slightly following release of the US jobless claims data. However, range of move is insignificant. Source: xStation5