7 May 2015
USD/JPY edges higher after US jobless claims
FXStreet (Córdoba) - USD/JPY extended its recovery from weekly lows as the dollar benefited from better-than-expected US initial jobless claims data.
The number of people applying for US unemployment benefits rose by 3,000 to 265,000 in the week ending May 1, beating expectations of 280,000 and holding near a 15-year low. The previous week print, unrevised at 262,000, was the lowest since 2000.
USD/JPY continued to move away from lows after data, climbing to the 119.35 zone after bottoming out at 119.05. At time of writing, the pair is trading at 119.30, still 0.09% below its opening price.
Tomorrow, the US Labor Department will release the nonfarm payrolls report. Investors will be looking for signs of a bounce in hiring, following dismal print in March (126K).
The number of people applying for US unemployment benefits rose by 3,000 to 265,000 in the week ending May 1, beating expectations of 280,000 and holding near a 15-year low. The previous week print, unrevised at 262,000, was the lowest since 2000.
USD/JPY continued to move away from lows after data, climbing to the 119.35 zone after bottoming out at 119.05. At time of writing, the pair is trading at 119.30, still 0.09% below its opening price.
Tomorrow, the US Labor Department will release the nonfarm payrolls report. Investors will be looking for signs of a bounce in hiring, following dismal print in March (126K).