The dollar remained strong yesterday, despite jobless claims coming in at a record breaking high. Data showed initial claims for unemployment benefits rose to 6.65 million in the latest week from an unrevised 3.3 million the previous week. The figures far exceeded the estimate of 3.5 million.
Oil prices surged yesterday after President Trump claimed that Russia and Saudi Arabia have agreed to cut production. In a tweet, he says that after speaking to both nations, he expects a cut of at least 10 million barrels of oil, which caused Brent Crude Oil to jump by 30%.
Today, we’ll see non-farm payrolls for the US, which are expected to fall dramatically from 273, 000 to -100,000.
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