Obroni wae, the USD dey struggle proper after the claims and PPI data drop wey show say things no dey go ein way. The way job market dey weak small dey different from how e usually be, and e dey make some pipo dey worry.
Continuing Claims: E dey go up!
If you check the continuing claims data, you go see say e dey rise waa! This dey show say more pipo dey claim say dem no get job, and dem need support.
Initial Claims: E dey push higher!
The initial claims data no dey break out of the range wey e dey inside since 2022, but e dey push up small small. So, more pipo dey file for unemployment benefits.
PCE Number Dey Come!
The PPI (Producer Price Index) plus the CPI (Consumer Price Index) wey drop yesterday, wey show say things dey weak, for lead to good PCE (Personal Consumption Expenditures) number. Dem go release the estimates for that one later today, as dem dey put am inside demma models.
Major Currency Pairs Dey Move:
- EURUSD: E dey go up reach new highs, wey be since 2021! The next target dey around 1.1683 – 1.16916. Buyers dey in charge.
- USDJPY: E fall back below the 100 and 200 bar MA for the 4-hour chart, go reach swing area down to 143.57. Next support dey between 1.2.10 and 142.347.
- GBPUSD: E trade reach new high for the year, wey be since February 2022. The next target dey against swing area from 2022 at 1.36445. Traders go target the 50% midpoint of the move down from the 2014 high to the 2022 low, wey be 1.37683.
- USDCHF: E dey go down towards the low of swing level wey be since April 2025. The swing area dey between 0.8097 and 0.81288. The low for 2025 at 0.80389 be the next target.
So, the currency market dey shake proper! Make you keep your eyes open and check the market trends before you make any decision o!