US Unemployment vs. ECB Rate Expectation

Initial jobless claims passed 400K, which is usually a number in recessionary periods. Unemployment rate stands at 5.5 percent in June, after biggest jump in almost two decades in May.

However, the negative reaction to the dollar was limited, probably because the data was overshadowed by the market expectation on the future of interest rates in Europe; it is expected that the ECB is not in a position to raise its benchmark again, after raising it today.

(this post has been added later)