The US data was a better than expectations with initial jobless claims coming down to 250K for the current week and the Philadelphia Fed Manufacturing index shoing a positive 6.2 vs -5.0 estimate. That data is in stark contrast to the Empire data released on Tuesday (-31.3).
The USD has seen mostly up and down action. The EURUSD, GBPUSD moved up to test falling 100 hour MAs and moved back down keeping the bias more to the downside. The USDJPY traded down, and up and back down. Topside resistance stalled rallies both yesterday and today. Sellers leaned.
