Eei Ghana, the forex market dey move! After dem release the claims/PPI data, the US Dollar (USD) dey tumble like say e dey fall from coconut tree. The PPI data wey come out weak, plus the initial and continuing claims wey shoot up, all be signs say the jobs market no dey strong like before. This one be serious shift from how things dey be usually.
Continuing Claims: The Break Higher
If you check the continuing claims data, you go see say e break higher, meaning say plenty people still dey struggle find work. Things dey tight!
Initial Claims: Pushing Higher
For the initial claims, even though e no break out of the range since 2022, e dey push higher, showing say more and more people dey file for unemployment benefits.
PCE Number Go Be Telling
The PPI, combined with the CPI wey dem release yesterday (wey weak too), go lead to important PCE (Personal Consumption Expenditures) number. Experts go dey watch am closely to see how e go affect the market.
How E Dey Affect Major Currencies?
- EURUSD: E climb reach new highs since 2021! Next target be 1.1683 – 1.16916. Buyers dey in charge!
- USDJPY: E fall below the 100 and 200 bar MA for the 4-hour chart. Major support dey between 142.10 and 142.347.
- GBPUSD: E trade reach new high for the year, since February 2022! Next target be 1.36445.
- USDCHF: E dey extend towards the low of a swing level since April 2025. Key target be 0.80389.
So Ghana, the forex market dey hot! Keep your eyes open and watch how things dey unfold. Make sure you do your research before you invest. Forex no be joke o!