The number of Americans filing for unemployment benefits unexpectedly rose last week to the highest level in more than a year, raising further concerns about the health of the labor market in the wake of a slowdown in job gains in April.
The U.S. economy's fundamentals are solid and growth this year should pick up to around 2.5%, but the Federal Reserve's current 'wait and see' approach to monetary policy is appropriate, a Fed policymaker said on Monday.
The full first week of the month economic data deluge that included today's U.S. Employment report is out of the way. Fundamental influences typically become a bit more subdued in the early part of this week.
Today intraday price action should be the most important and it looks like that USD can move even higher as we see both in the Euro/U.S. Dollar (EU/RUSD) currency pair and USD/CHF in corrective pullbacks. Fifth waves are expected, down to 1.1360 on Euro and up to around 0.9740 on USD/CHF.