FXStreet (San Francisco) - The US dollar was the king on Thursday as Jobless claims data fueled the appetite for the Greenback. The USD rose against the Japanese Yen and the Pound; however the trade versus Euro was directionless.
Valeria Bednarik from FXStreet commented in a recent report that there was a perfect doji in a directionless trade on EUR/USD: "A higher high, and a lower low were posted in the EUR/USD, but the daily range did not overcame 50 pips. In fact, the daily candle is almost a doji, with almost no body to show."
The EUR/USD posted it first no-negative day in the last 5 sessions as the pair fell to 1.3435, lows since November 21, to bounce back to close nearly flat on the day. Bednarik comments that "a corrective movement may surge on steady gains above 1.3500, thus approaches to 1.3570 should been seen as selling opportunities following the dominant trend."
The GBP/USD extended its 'sangria' as the pair declined for seventh day to trade at lows since June 25 at 1.6965. Cable managed to recover some ground and now it is closing the day at 1.6985. The USD/JPY performed its fifth positive day as the pair jumped above the 200-day MA at 101.55 to test July 9 highs at 101.85.
Currently, USD/JPY is trading at 101.80, up 0.32% on the day, having posted a daily high at 101.87 and low at 101.41. The hourly FXStreet OB/OS Index is showing overbought conditions, alongside the FXStreet Trend Index which is slightly bullish.
Main headlines in the American session
US initial jobless claims 284K vs 307K expected
United States Markit Manufacturing PMI below forecasts (57.5) in July: Actual (56.3)
US June new home sales 406K vs 475K expected
United States Kansas Fed manufacturing activity climbed from previous 2 to 11 in July
IMF slashes US growth; upgrades Japan, UK and Germany – table
US stocks closed mixed as Facebook holds S&P 500
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