Impact Medium
The number of Americans claiming for unemployment benefits declined by 2,000 to 386,000 in the week ended April 14 from the week before, said the Department of Labor on Thursday.
'Progress in the labor market is not quite as strong as people had hoped, but we are still on a recovery track here,' said Scott Brown, chief economist at Raymond James & Associates Inc. in St. Petersburg, Florida.
In a separate report, the Bloomberg said its Consumer Comfort Index rose to minus 31.4 in the period ended April 15 from minus 32.8 the previous week.
'The uneven nature of the recovery will likely continue to restrain the type of improvement in consumer sentiment that one would traditionally observe at this point in the expansionary cycle,' said Joseph Brusuelas, a senior economist at Bloomberg LP in New York.
GBP
'Economic data does look like it is showing some stabilization, U.K. stocks were little changed on Thursday
Impact Medium
U.K. stocks were little changed on Thursday. The benchmark FTSE 100 Index lost 0.01%, or 0.74 points, to 5,744.55. The FTSE All-Share Index erased 0.02%, or 0.62 points, to 2,987.79.
'Economic data does look like it is showing some stabilization but it is not the case around the world,' said Samantha Fitzpatrick, senior investment manager at Aberdeen Asset Management Plc in Glasgow.
'Expectations are now getting higher, and that just means that there is room for further disappointments down the line. We are still very much focused on protecting our clients' capital rather than trying to chase markets as they rise up.
We don't like the outlook for sterling due to weak government finances, low rates and weak growth. We are buyers of dollars above $1.60' - Midas balanced growth fund (based on Reuters)
Industry outlook
The Cable is attempting to close above 1.6062/67, which guards 1.609 and 1.6129. Nonetheless, the resistance is unlikely to give in for now and should be able to contain the pair. The interim support is at 1.5856/44 (55 and 200 day ma).
Traders' sentiment
GBP/USD is oversold to a large extent at the moment, since the overwhelming majority (73%) of trades opened are short, while longs form 27% of the market.
Long position opened
The initial resistance level for the pair is 1.6083. If the price continues increasing, the investors will hold longs until the pair climbs up to 1.6114 or 1.6152.
Short position opened
Bearish market players will pay attention to a near-term support at 1.6014. The downtrend continuation will establish following targets for traders: S2 at 1.5976 and S3 at 1.5945
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