U.S. Initial Claims Fell to 374k Last Week – July 5

Today, July 5th, the U.S. jobless claims weekly update  was published; according to the recent weekly report, the number of initial claims declined during the week ending on June 30th; the total initial claims decreased by 14k and settled at 374,000 claims (seasonally adjusted data), which is lower than the revised figure of 388k claims from last week; the four week average decreased to 385,750; the insured unemployment rate flat at 2.6% for the week ending on June 23rd;  the number of insured unemployment rose by 4k and reached 3,306 thousand. Finally, the four week average fell by 3 thousand to 3,304 thousand.

This news might have some effect on the U.S dollar exchange rate, but since the ECB had announced earlier today it will cut rate by 0.25pp to 0.75% the effect of the US jobless claims report won’t be strong.

Currently the U.S. dollar is appreciating against many major currencies.

Euros to USD is at 1.2385 as of 15:35*.

British Pound to U.S. dollar is traded at 1.5518 a 0.46% decrease as of 15:35*.

Current gold price (August 2012 delivery) is traded at $1,607 per t oz. a $14.4 decrease as of 15:35*.

(* GMT)

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