U.S. initial jobless claims surge to a new record at 6648K
A close look at the U.S labor market.
FX Update: Looking for FX themes beyond risk-on, risk-off
Today we look for interesting developments in this market outside of the broader tendency for currencies to trade in knee-jerk reaction to risk-on, risk-off developments. We note in particularly the two-way risks for the euro from here, as well as interesting sterling strength and the difference in a CAD versus a NOK if oil prices are bottoming here.