Initial Jobless Claims to be Unveiled Today

Initial Jobless Claims to be Unveiled Today

The weekly release of the Initial Jobless Claims will be released on Thursday at 13:30 GMT, as per the sources from the US Department of Labor. Economists are expecting it to be 200000, once declining 2000 from the previous release of 202000. When there is a drop in the readings of the indicator, it will have a positive effect on the US dollar quotes. Henceforth, market participants who are trading in the currency are recommended to be vigilant during the announcement of the indicator.

 If there is a drop in the readings of the indicator, it will have an unfavourable impact on the US dollar quotes. With the release of the Initial Jobless Claims, the present condition of the labour market could be assessed. The indicator represents the number of individuals filing to receive unemployment insurance benefits. 

ECB President to Deliver Speech

As per the sources from the European Central Bank, a speech will be given by Christine Lagarde, the president of the ECB on Thursday at 15:15 GMT. Market participants who are trading in the euro quotes are suggested to be recommended to be pay heed to the points included in the speech delivered by the president. Moreover, a short-term positive effect will be felt on the euro when the rhetoric of Lagarde suggests any upcoming tightening or easing in the future monetary policy. 

Since the talk will be reflecting the official position of the bank, it will be carefully examined by the market analysts and participants.

Release of the EIA Crude Oil Stocks Change

Market participants who are associated with the oil industry and those trading in the American currency are highly recommended to be alert during the announcement of the EIA Crude Oil Stocks Change. The indicator that affects the world oil prices will be disclosed by the US Energy Information Administration on Thursday at 16:00 GMT. Financial experts are estimating it to have a surge of 4.112 M which had an increase of 1.338M, when released on 10th Jan 2024 at 15:30 GMT. However, a negative impact will be felt on the oil barrel price if the value in the reading of the crude oil stocks is increasing. With their growth, a weaker demand for oil is indicated.