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BREAKING: EURUSD below 1.12 after US data pack. Claims lowest since 1969

The US economy expanded an annualized 2.1% on quarter in Q3 2021, slightly higher than 2% in the advance estimate, but below forecasts of 2.2%. The update primarily reflects upward revisions to personal consumption expenditures and private inventory investment.

The number of Americans filing for unemployment benefits was  0.190 million in the week ended November 20, compared to 0.268 million reported in the previous week. Today’s reading came in below market expectations of 0.260 million.  This is the lowest reading since 1969.

Continuing claims reading, which lags initial jobless claims data by one week, dropped to 2.049 million from 2,080 million, while analysts expected a decrease to 2.033 million. 

New orders for US manufactured durable goods were fell  -0.5% MoM in October, following downwardly revised -0.4% decrease in September and well below  market forecasts of 0.2% advance. 

Durable Goods Orders Excluding Transportation edged up 0.5% MoM in October, compared to analysts’ expectations of 0.7%.

EURUSD broke below the 1.1200 support which coincides with the lower limit of the wedge formation after today's data releases and is heading towards next support level at 1.1170. Source:xStation5  

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