The U.S. economy has been struggling to keep the same pace exhibited in 2014. First quarter growth has disappointed and depreciated the USD versus major pairs. The number of unemployment claims was higher in the last week at 274,000 but only slightly above the forecast of 271,000. The four-week average for claims is the lowest since the year 2000. Employment continues to be the strongest component of the American economy and has been resilient to the harsh first quarter.
The weekly release of unemployment claims and the Federal Reserve’s insistence on being data dependent will have traders eying the claims data that will be published on Thursday. Otherwise, there will be two releases of weekly data ahead of the biggest indicator in the forex market on Friday, June 5 when the nonfarm payrolls data will be released.
US employment events to watch this week:
Thursday, May 28 8:30 a.m. USD Unemployment Claims
*All times EDT
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Alfonso Esparza
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