Prior was 233K (revised to 232K)Four-week moving average 235.5 vs 241.5K priorContinuing claims 1965K vs 1974K expectedPrior continuing claims 1964K
USD/JPY was trading at 146.23 ahead of the data and rose to 146.46 afterwards. This should be a nail in the coffin of the idea of a cut at the July FOMC meeting and erases the recent bump in claims. It’s very tough to find any real sign of a weak jobs picture in the US but continuing claims are at the highest since 2021 in a sign that it’s getting harder to find a job.
This article was written by Adam Button at www.forexlive.com.