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The US weekly labor data is out!

US Initial jobless claims will be announced on Thursday at 15:30 MT time.

Instruments to trade: EUR/USD, USD/CAD, USD/JPY, GBP/USD

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The unemployment claims registered in the US have been going flat for the last two weeks. 881K in the first week and 884K in the second week of September indicate that the labor market has finally withstood the blow of the virus and is now going through the stabilization phase. As it is unlikely that the numbers will rise, the question is how fast they will fall. This question eventually will affect the pace of recovery: the sooner the numbers drop, the faster the recovery will go. Observers expect to see some 850K initial jobless claims. USD may be pushed to the upside or downside depending on whether the actual data will outperform or underperform against this expectation.

If the jobs data is better-than-thought, the USD will rise.
Otherwise, it will fall.
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Image may contain: text that says '0159A 1408 1422 1435 1310 1308 1600 1191 1400 1104 971 1200 1011 Jun 28 Jul12 884 Jul 26 893 1000 Aug 860 Aug 23 Sep 6 800 SOURCE: TRADINGECONOMICS.COM U.S. DEPARTMENT OF LABOR'

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