Forex News Review; Initial and Continuing Claims weaker. PCE as expected. Spending better. Income less

Initial Claims 380,000.   The 4 week moving average moved lower to 363,750.  This series has been up and down with the last 5 weeks coming in at 406, 355,375, 345 and 380.  This is more volatile than normal.  

Continuing Claims break above 3mm at 3,019,000 - first time since April of 2004.  The 4 week moving average moves up to 2,979,000 the highest level since May 2004.  This is weaker and suggests continuing weak employment situation.

PCE comes in at 2.1 YoY which is as expected.  This is remaining steady

Personal Spending was higher than income.  So consumers are spending more than earning this month.  Not good given the current environment.

Overall, more bearish for the dollar but the market seems to have some order flows that are influencing levels this morning with the EURUSD under the most pressure.