Highlight of the day – Initial Claims by FxArsenal.com

Quite a slow day for main pair is to experience. None of considerable Euro zone economic indicators will be issued today. Solely one significant data release coming from U.S. economy is planned on today session.

Namely, weekly released Unemployment Claims. Regardless the fact that previous week disclosed sharp upward surge in the number of new unemployment benefits applications, Initial Claims releases still stick to enduring downward trend, which is indubitably underpinning for U.S. Dollar. Forecasted value of today release is 426K in comparison with previous 436K. We hold an considered opinion that current Initial Claims will be in line with long lasting downward trend. The outcome of the scenario of good Department of Labor data, might become breaching strong support on EURUSD chart, the level of 1.3193, which is multi-tested 50 percent Fibonacci retracement. We remain bearish on EURUSD.

 

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