Watching the dollar for further clues after this jobless claims print

Interesting reaction this morning to the jobless claims data. While the headline number wasn't wildly out of line, the subtle shifts in the continuing claims are something I'm keeping an eye on. It seems to have given the dollar a bit of a bid, which naturally means the market is trying to price in a more hawkish Fed for longer narrative again, or at least one that doesn't pivot as quickly as some were hoping. That's usually not great for risk assets broadly, though $US30 is holding up surprisingly well today, currently +1.32% around 53178.41.

My primary watch today is actually on the bond market reaction and how that translates to the $DXY. If we see a sustained move higher there, it will put pressure on commodities and likely keep a lid on any major breakouts for the crypto space – even though we're seeing $SHIB at 0.000005, up 3.09%. For now, I'm content to watch from the sidelines, looking for clearer signs of conviction in either direction. Not chasing anything, just observing the flows.