Continuing Jobless Claims (week ending May 17, 2025) also moved higher:to 1.919 million, up from 1.903 million, above estimates of 1.893 million, indicating more people are remaining on unemployment benefits.
US GDP consumption also fell from 1.8% to 1.2%. The combination of the data suggests that the Fed may have room to cut earlier than expected. US yields are now lower after trading higher earlier today.
The 2-year is at 3.967%, down -2.5 basis points. The 10-year yield is trading at 4.457%, down -2.2 basis points. The 30-year yield is down two basis points at 4.958%The USDJPY has moved below its 100-bar MA on the 4-hour chart at 144.897. That is now close risk. The cluster of MAs below starting with the 200-hour MA at 143.95 and down the 100 hour MA at 143.785 are the next targets.
This article was written by Greg Michalowski at www.forexlive.com. Read More Details
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