The latest unemployment benefit data has just been released, so let’s dive into the numbers. For the week ending August 17, the initial jobless claims in the U.S. came in at 235,480, slightly above the forecast of 231,600. The previous figure was also revised upward, from 228,500 to 30,058.
This data paints a bearish picture for the U.S. dollar and could support arguments for an interest rate cut. However, the market has already started to react negatively, indicating that tonight’s trading session could see significant volatility. It’s crucial to wait for the right entry point that we've discussed, rather than making hasty decisions.
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