EUR/USD, USD/JPY flows: Initial Claims Helps USD

The USD pushed marginally higher after Thursday economic data, with the drop in jobless claims catching most attention following the January FOMC minutes shift of tone.  However, some traders note that the wider than expected December trade deficit will mean some downside risks for Friday’s Q4 GDP release in the U.S.   Traders also note that the supreme court ruling on reciprocal tariffs could be seen Friday, but this could be risk off (USD positive) but see Trump threatening more tariffs and the USD (USD negative).