Today, June 22nd, the U.S. jobless claims weekly update came out; according to the recent weekly report, the number of initial claims declined during the week ending on June 16th; the total initial claims fell by 2k and settled at 387,000 claims (seasonally adjusted data), which is higher than the revised figure of 389k claims from last week; the four week average increased to 386,000; the insured unemployment rate remained flat at 2.6% for the week ending on June 9th; the number of insured unemployment remained unchanged compared with the previous week at 3,299 thousand. Finally, the four week average rose by 5,250 to 3,293 thousand.
This news might have had some slight effect on the U.S dollar currency: since this news doesn’t show sharp change from last week it might have at best little effect on the forex and commodities markets.
Thus, this report might pull up a bit the U.S dollar and consequently may positively affect (to some degree) precious metals prices.
Currently the U.S. dollar is moderately depreciating against many major currencies.
Euros to USD is at 1.2551 as of 23:36*.
British Pound to U.S. dollar is traded at 1.5599 a 0.04% increase as of 23:36*.
Current gold price (July 2012 delivery) is traded at $1,567 per t oz. a $0.08 increase as of 23:36*.
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