EUR/USD sent back as US jobless claims fall more than expected and PCE remains sticky

The US data releases have just hit the screens and in addition to the latest US weekly jobless claims we have just had a bunch of revisions on GDP and PCE for Q4 2024. The latest weekly claims were expected to rise ever so slightly, to around 225k from 223k. They have actually fallen to 207K. The Q4 GDP was revised lower and below forecasts. It was at 3.1% annualised and forecast to come in at 2.6%. It was actually at 2.3%. The Core PCE did rise though, as expected by 2.5%. It was previously at 2.2%. The immediate dollar reaction has been positive and it seems the claims numbers are responsible for that, that core PCE will also ensure the Fed will not rush to lower rates. The USD/JPY bounced on this news and the EUR/USD has fallen back slightly after pressing towards 1.0420 after the ECB. Overall though, this all seems rather muted to be honest.