Forex: USD vulnerable after US updates?

on Jun 27, 2013
Listen Thursday June 27th: The number of people signing up for unemployment assistance fell to 346, 000 last week with continuing jobless claims also declining to 2,965 million from 2,966 million during the week ending June 15.The advance seasonally adjusted insured unemployment rate was 2.3 percent for same period, unchanged from the prior week’s unrevised rate.

Personal Income rose by 0.5 percent in May m/m, against only 0.1 percent in April and surpassing expectations for 0.2 percent growth.
Personal spending followed projections, rising by 0.3 percent in May, from a previous decline by 0.3 percent.
In addition, Core Personal Consumption Expenditure – Price Index showed an annualized 1.1 percent growth in May, unchanged from the previous month’s rate of growth.

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**EUR/USD** – The pair has neither been much affected by either Eurozone or US updates today. The quote has traded in a narrow channel between the daily high and low at 1.3042 and 1.3011 respectively, throughout today’s London session.

**USD/JPY** – Following the latest US releases, the yen rose against the US dollar to the level of 97.83, but subsequently lost momentum. However, the quote has again picked up and returned quickly to closer to the three-day high at 98.34.
**GBP/USD** – The downside pace of the pair has continued during the early hours of the American session today, after the pair hit a 24-day low early in European trade. The pound hasn’t been supported by the UK’s GDP and current account update today. Both releases disappointed market participants.
Following the jobless claims data, the pair has fallen deeper, touching a new low at 1.5238.


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