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After weaker than expected ADP employment report yesterday, today was jobless claims' turn to disappoint the market. However it has not been sufficient enough to knock off confidence.
Comments from Atlanta FED President Dennis Lockhart is still weighing somewhat in the market, as US economy need to deteriorate considerably to push him away from a September rate hike vote. Mr. Lockhart has been a core member of FOMC, whose view might be echoing others.
- US jobless claims rose from 267,000 last week to 270,000 today. Data was weaker but beat market expectations. Median forecast by Economists had predicted weekly total of 272,000.
Expectations and high hope over non-farm payroll report lost some air over these two release ahead of it.
With such non-farm has better chance to surprise to upside as market participants will be heading to Friday with lower expectations.
Median expectations are for job creation of 225,000 in July compared to 223,000 in June.
FXCM US Dollar index is currently trading at 12054.
