U.S. Initial Claims Slightly Declined to 353k Last Week – March 1

Today, March 1st, the U.S. jobless claims weekly report came out; the report showed the number of initial claims declined by 2 thousand for the week ending on February 25th; the total initial claims reached 353,000 claims (seasonally adjusted data); the four week average decreased by 5,500 to 354,000; the insured unemployment rate also remained unchanged at 2.7% for the week ending on February 18th;  the number of insured unemployment reached 3,402 thousand, a decrease of 2,000 compared with the previous week’s numbers; Finally, the four week average fell by 12.25 thousand  to 3,444 thousand . This news demonstrate an ongoing slow recovery in the US labor market, as the  number of jobless claims remain low; this news may continue yesterday’s rally of the US dollar and keep it strong against other major currencies. The number of initial claims decreased for four out of the last five weeks.

Currently the U.S. dollar is traded slightly with mixed trend against many major currencies.

Euros to USD is slightly falling by 0.11% to 1.3310 as of 14:25*.

British Pound to U.S. dollar exchange rate is traded at 1.5944 a 0.19% increase as of 14:25*.

Current gold price (April 2012 delivery) is traded at $1,712.0 per t oz. a $0.7 increase as of 14:12*.

(* GMT)

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