US dollar broadly higher on initial jobless claims
The past two weeks have been the second and third-best initial jobless claims reports since 2000. The four-week moving average is also the best in 15 years.
Importantly, it's also survey week for non-farm payrolls and that bodes well for the Nov 6 report.
EUR/USD has been flattened by Draghi in a 100-pip dive to 1.2725. But the US dollar is also around 25 pips higher broadly. Some of that is flows coming through EUR/USD but initial jobless claims and the recent US dollar momentum is also part of the equation.
