Earlier today, the U.S. Department of Labor reported that the number of initial jobless claims in the week ending February 14 dropped by 21,000, beating analysts’ expectations for a fall by 11,000. Thanks to these bullish numbers, USD/CHF extended rally, but how much more room for further gains does the exchange rate have?

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Earlier today, the U.K. Office for National Statistics reported that the unemployment rate declined to a six-year low 5.7% in the fourth quarter of the previous year, beating expectations for a reading of 5.8%. The report also showed that the claimant count fell by 38,600 in January, also beating expectations for a decline of 25,000. Today’s data also showed that the U.K. average earnings index, including bonuses, increased by 2.1% in the four quarter of 2014, above forecasts for 1.7%. Thanks to these bullish numbers, GBP/USD bounced off the previously-broken levels and erased most of the recent losses. Will we see the exchange rate above 1.5500 in the coming days?

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Earlier today, the ZEW Centre for Economic Research showed that its index of German economic sentiment rose by 4.6 points to 53.0 this month from January’s reading of 48.4, which is the highest reading since February 2014. Thanks to these positive numbers, EUR/USD bounced off this week’s lows and climbed above 1.1400. Will we see the exchange rate above 1.1500 later this week?

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Earlier today, the USD Index moved lower once again as yesterday’s disappointing data continued to weigh. How did these circumstances affect the major currency pairs’ outlooks?

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Earlier today, the U.S. Commerce Department showed that retail sales dropped by 0.8% in Jan (missing expectations for a decline of 0.5%), while core retail sales (without automobile sales) decreased by 0.9% in December, disappointing forecasts for a 0.4% drop). On top of that, the U.S. Department of Labor reported that the number of initial jobless claims in the week ending February 7 increased by 25,000 missing analysts’ expectations for a 6,000 increase. In response to these disappointing numbers, the U.S. dollar moved lower against its Canadian counterpart, which resulted in a breakdown under the long-term support/resistance line. Will we see a sizable downward move?

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