Tomorrow, Thursday 09-03-09 at 8:30 AM ET, the USD Initial Jobless Claims and the Continuing Jobless Claims reports will be released.
These two reports will be the only economic reports released at that time, sometimes they are released with other reports.
The last time these two reports were released alone was on Thursday, 07-23-09 at 8:30 AM ET, click here for a review.
I did a preview of those two reports, click here to see how it was set up.
These 2 reports are released by the Department of Labor on a weekly basis.
It appears that the Initial Claims has the greater impact on the currency market, but, politically, the Continuing Claims may cause some trading influence.
Let’s set this up for tomorrow.
USD Initial Jobless Claims stats:
Previous = 570K
Forecast = 563K
Looks like the economists believe claims went down last week – maybe!
Continuing Jobless Claims stats:
Previous = 6133K
Forecast = 6130K
Looks like the economists believe continuing claims went down last week as well – maybe!
I traded the EUR/JPY currency pair a couple minutes after the release of the 07-23-09 reports – check the review to see what happened, click here.
So, I will probably set up to trade the EUR/JPY if both reports come out in the same way – an increase in claims or a decrease in claims, especially if there is an increase in claims since the market expects a decrease.
My personal thoughts concerning less continuing jobless claims is that there are many jobless persons that have moved off of the rolls, not necessarily have they found jobs. They will probably be back on the rolls again in the near future.
The next USD-Unemployment Claims report is coming out on Thursday 09-10-09 at 8:30 AM ET. I should be posting a preview a day or 2 prior.
I will be posting a follow up soon after the conclusion of these reports.
Keep this mind, past performances are not an indication of future results.
Stay tuned!
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