US Initial Jobless Claims Preview: Safety dollar could benefit from fear of deepening slowdown

The Department of Labor will issue its initial jobless claims for the week of March 28 on Thursday, April 2 at 12:30 GMT. Joseph Trevisani, an analyst at FXStreet, with the preview.

Key quotes

“Initial claims are expected to rise to 3.5 million from 3.283 million the previous week.  The range of the estimates in the Reuters survey of economists is from 1.5 million to 5.250 million.”

“Last week’s record initial claims have prepared but not inured markets for disastrous economic data.  As long as the claims are within the new parameters the effect of these historic numbers will be judged by context and not absolute values.”

“There is probably not much that can surprise. But markets are keyed for bad news and with the US dollar the safe-have of choice, bad news is likely to be good news for the greenback.”