{"id":167477,"date":"2020-03-26T16:19:15","date_gmt":"2020-03-26T20:19:15","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=167477"},"modified":"2020-03-26T16:19:15","modified_gmt":"2020-03-26T20:19:15","slug":"dollar-crumbles-as-us-jobless-claims-skyrocket","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2020\/03\/dollar-crumbles-as-us-jobless-claims-skyrocket\/","title":{"rendered":"Dollar crumbles as US jobless claims skyrocket"},"content":{"rendered":"<div id=\"inves-2708274585\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">March 26, 2020<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p><strong>By Lukman Otunuga, Research Analyst, <a href=\"http:\/\/countingpips.com\/contributors\/contributor-profile-forextime\/\">ForexTime<\/a><\/strong><\/p>\n<div class=\"article-body\">\n<div class=\"field-body\">\n<div class=\"field-items\">\n<div class=\"field-item even\">\n<p>The Dollar weakened against every single G10 currency on Thursday after terrible US economic data fuelled concerns over the health of the largest economy in the world.<\/p>\n<p>Nearly 3.3 million Americans applied for unemployment benefits last week which was more than triple the previous record set in 1982 amid the widespread economic shutdown caused by the pandemic. These figures are certainly a shocking reflecting of how badly the coronavirus has hit theeconomy with the pace of layoffs expected to jump as the United States sinks into a recession. Dollar weakness could become a short term theme if economic data continues to paint a gloomy picture, despite the efforts of\u00a0the Federal Reserve and Senate to promote stability.<\/p>\n<p>Looking at the technical picture, the Dollar Index is under intense pressure on the daily charts with prices trading around 99.90. A solid daily close below this level could open a path towards 99.00.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.forextime.com\/images\/maa\/_dxydaily_148.png\" alt=\"\" \/><br \/>\n<strong>Commodity spotlight \u2013 Gold<\/strong><\/p>\n<p>Appetite for Gold improved on Thursday after disappointing US economic data weakened the Dollar and fanned fears around the largest economy in the world entering a recession.<\/p>\n<p>The precious metal has appreciated almost 5% since the start of the week and is positioned to extend gains on risk aversion. Technical traders will continue to closely observe how prices behave around $1630. A solid daily close above this point should open a path back towards $1675.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.forextime.com\/images\/maa\/xauusddaily_666.png\" alt=\"\" \/><\/p>\n<\/div>\n<\/div>\n<\/div>\n<p><em><strong>Disclaimer: <\/strong>The content in this article comprises personal opinions and should not be construed as containing personal and\/or other investment advice and\/or an offer of and\/or solicitation for any transactions in financial instruments and\/or a guarantee and\/or prediction of future performance. ForexTime (FXTM), its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness, of any information or data made available and assume no liability as to any loss arising from any investment based on the same.<\/em><\/p>\n<\/div>\n<hr \/>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-54242 alignleft\" src=\"https:\/\/www.countingpips.com\/articles-analysis\/wp-content\/uploads\/2014\/07\/Forex-Time-Logo.png\" alt=\"Forex-Time-Logo\" width=\"262\" height=\"90\" \/><strong>Article by <span style=\"text-decoration: underline;\"><a href=\"https:\/\/www.countingpips.com\/contributors\/contributor-profile-forextime\/\">ForexTime<\/a><\/span><\/strong><\/p>\n<p><strong>ForexTime Ltd (FXTM)<\/strong> is an award winning international online forex broker regulated by CySEC 185\/12 <a href=\"http:\/\/www.forextime.com\" target=\"_blank\" rel=\"noopener noreferrer\">www.forextime.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Lukman Otunuga, Research Analyst, ForexTime The Dollar weakened against every single G10 currency on Thursday after terrible US economic data fuelled concerns over the health of the largest economy in the world. Nearly 3.3 million Americans applied for unemployment benefits last week which was more than triple the previous record set in 1982 amid [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-167477","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/167477","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=167477"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/167477\/revisions"}],"predecessor-version":[{"id":167499,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/167477\/revisions\/167499"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=167477"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=167477"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=167477"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}