US Dollar was seen trading lower against the Euro and Japanese Yen, but after the US initial jobless claims release it managed to gain traction. US Initial Jobless Claims reported by the US Department of Labor registered a decline from the last reading of 287K to 277K. US Counting Jobless Claims came in at 2.230M, more than the forecast of 2.193M. US Initial Jobless Claims There was a critical release in the US today, as the US Initial Jobless Claims representing the number of people filing first-time claims for state unemployment insurance was published. The US Department of Labor stated that there was a decline of 10K in claims from 287K to 275K. A point to note is that the market was expecting a decline of 12K, but we cannot discard a decline of 10K. Moreover, the US Counting Jobless Claims were also on the lower side, as the market was expecting 2.193M, and it came in at 2.230M. The report highlighted that “the advance number for seasonally adjusted insured unemployment during the week ending December 26 was 2,230,000, an increase of 25,000 from the previous week’s revised level. The previous week’s level was revised up 7,000 from 2,198,000 to 2,205,000�. Must Read – GBPUSD Trashed; Eyes a Test of 1.4500? In short, the report gave a chance to the US Dollar buyers to gain traction. It would be interesting to see whether the EURUSD pair can retreat from highs and whether the GBPUSD pair can recover from the lows.

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