The dollar was weak against both the pound and the euro yesterday, however, it did strengthen slightly after jobless claims figures were released. It is slightly stronger against the euro this morning, resuming its role as a safe-haven currency as US-China tensions continue.
The data showed that fewer Americans sought jobless benefits last week. The number of Americans filling for unemployment benefits rose by 1.2 million in the week ending August 1st, the least since the pandemic started and compared to market expectations of 1.4 million. It was also the largest weekly drop in jobless benefits applications in almost two months.
Today, Non-Farm Payrolls will be released, another huge indicator of how the US economy is faring. The number of jobs added in July is expected to be around 1,600,000.
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