The Euro depreciated against the US Dollar, following the US Unemployment Claims data release on Thursday at 12:30 GMT. The EUR/USD exchange currency rate lost 19 pips or 0.18% after the release. The Euro continued trading at the 1.0950 level against the Greenback after the release.
The Department of Labor released the US Unemployment Claims, which came out worse-than-expected of 3283K compared with the forecast of 1648K.
Currently, this is the biggest number of people who filed for unemployment in the American history, including the Great Depression and the 2008 recession.
It is likely that the Euro depreciated as market participants now expect the same enormous number of unemployed people in the Eurozone due to the coronavirus outbreak.
| Date | 27.02.20 | 05.03.20 | 12.03.20 | 19.03.20 | 26.03.20 |
|---|---|---|---|---|---|
| Actual | 210K | 216K | 211K | 281K | 3283K |
| Forecast | 210K | 215K | 219K | 220K | 1648K |
| Pair | Open | Close | Change |
|---|---|---|---|
| AUD/USD | 0.60022 | 0.60028 | 0.01% |
| EUR/USD | 1.09516 | 1.09416 | -0.09% |
| NZD/USD | 0.58826 | 0.58849 | 0.04% |
| USD/JPY | 109.721 | 109.805 | 0.08% |
| Pair | Longs | Shorts |
|---|---|---|
| AUD/USD | 25.9% | 74.1% |
| EUR/USD | 26.7% | 73.3% |
| NZD/USD | 56.1% | 44.0% |
| USD/JPY | 33.6% | 66.5% |
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