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Ikon forex "Initial jobless claims in US was lower than the previous expectation, USD

Discussion in 'Forex Discussions' started by ikonforex, Feb 10, 2011.

  1. ikonforex

    ikonforex New Member

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    According to the data of DOL which was released on Thursday (February 10), the initial jobless claims went down sharply by 36 thousand to 383 thousand in the week of February 5, and the previous expectation was 410 thousand. And this made the lowest record since July 5, 2008.

    Meanwhile, the data from DOC indicated that the month rate of the wholesale inventories in December went up by 1.0 percent, and the previous expectation was to increase by 0.7 percent; the month rate of the wholesales went up by 0.4 percent and the previous expectation was to increase by 1.3 percent.

    In addition, the data released by the US Treasury indicated that the government budget in January in US was a deficit of 49.8 billion, and the previous expectation was a deficit of 70.0 billion US dollars.

    The forex price of USD/JPY was opened at 82.73 in the New York trading session, and early in the forex market, this forex price steadily went up. In the afternoon trading session, this forex price got a high fluctuation, and it refreshed the highest point in that day at 83.37, and was finally closed at around 83.20.

    Technically, the forex price of USD/JPY broke the average line for 55 days in the market, and the MACD index chart expanded, KDJ index line went up. If this forex price broke 84.50, then the rebound target would be pointed to 85.90. If the forex price went down to below 82.20, then the rebound target would be pointed to 81.60.

    The forex price of USD/JPY was at 83.23/24 at 05:20 Beijing time.

    Edited by Laura in Ikon Group.
     
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