According to our analysis USDJPY and EURUSD moved 17 pips on US Jobless Claims data on 16 November 2023.

USDJPY (12 pips)

EURUSD (5 pips)

Charts are exported from JForex (Dukascopy).

In the week ending November 11, 2023, the United States saw a rise in both seasonally adjusted and unadjusted initial unemployment claims. The seasonally adjusted figure reached 231,000, reflecting a notable increase of 13,000 from the previous week, with a 4-week moving average of 220,250. The unadjusted data reported 215,874 actual initial claims, marking a week-to-week increase of 0.8 percent. Despite seasonal expectations for a decrease, the figures demonstrate a rise.

The insured unemployment rate also showed an increase, reaching 1.3 percent, a 0.1 percentage point uptick from the previous week. The number of insured unemployed individuals rose to 1,865,000, marking the highest level since November 27, 2021. The unadjusted insured unemployment rate remained at 1.1 percent, with 1,581,345 individuals claiming benefits, a decrease of 1.6 percent from the preceding week.

Source: https://www.dol.gov/ui/data.pdf

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