{"id":180178,"date":"2025-12-12T12:32:08","date_gmt":"2025-12-12T12:32:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/180178\/"},"modified":"2025-12-12T12:32:08","modified_gmt":"2025-12-12T12:32:08","slug":"usd-extends-decline-as-jobless-claims-spike-to-highest-since-mar-2020-ocbc","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/180178\/","title":{"rendered":"USD extends decline as jobless claims spike to highest Since Mar-2020 \u2013 OCBC"},"content":{"rendered":"<p>The US Dollar (USD) continued to slide, pressured by a jump in initial <a href=\"https:\/\/www.fxstreet.com\/economic-calendar\" data-fxs-autoanchor=\"\" rel=\"nofollow noopener\" target=\"_blank\">jobless claims<\/a> to 236k\u2014the largest weekly rise since March 2020\u2014and lingering softness in the labor market, OCBC&#8217;s FX analysts Frances Cheung and Christopher Wong note.<\/p>\n<p>Market eyes November NFP and CPI for direction<\/p>\n<p>&#8220;USD extended its decline, alongside the slippage in UST yields. Initial jobless claims rose by 44k to +236k, the biggest weekly increase since Mar-2020. While weekly data can be especially &#8216;noisy&#8217; around holiday season (Thanksgiving, Christmas), the 4-week moving average did tick higher last week.&#8221;<\/p>\n<p>&#8220;This adds to the soft labour market narrative, where not only job creation is slowing but layoffs continue to pick up. Nov <a href=\"https:\/\/www.fxstreet.com\/macroeconomics\/economic-indicator\/nfp\" data-fxs-autoanchor=\"\" rel=\"nofollow noopener\" target=\"_blank\">NFP<\/a> and CPI reports to be released next week on 16 and 18 Dec, respectively will be closely scrutinised.&#8221; <\/p>\n<p>&#8220;A softer set of data should give USD bears further courage to test lower while Dec seasonality trend sets a favourable environment for USD bears. Since 2000, the month of December is weakest (average -1.07%) amongst the twelve calendar months and DXY fell on 17 out of 25 Decembers.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"The US Dollar (USD) continued to slide, pressured by a jump in initial jobless claims to 236k\u2014the largest&hellip;\n","protected":false},"author":2,"featured_media":180179,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[138,219,111,139,69],"class_list":["post-180178","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-new-zealand","tag-newzealand","tag-nz"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/180178","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=180178"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/180178\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/180179"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=180178"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=180178"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=180178"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}