U.S. Initial Claims Decreased to 348k Last Week – March 22

Today, March 22nd, the U.S. jobless claims weekly report was published; according to the recent update, the number of initial claims declined by 5 thousand for the week ending on March 17th; the total initial claims reached 348,000 claims (seasonally adjusted data); the four week average also declined to 355,000; the insured unemployment rate decreased by 0.1 percent points to 2.6% for the week ending on March 10th;  the number of insured unemployment reached 3,352 thousand, a decrease of 9,000 compared with the previous week’s figures. Finally, the four week average declined by 13 thousand to 3,385 thousand. This recent news of the further drop in the U.S. jobless claims coincides with the general direction of the downward trend of numbers of jobless claims during recent months (the number of initial claims decreased in six out of the last eight weeks); this news may help pressure up the U.S dollar against other major currencies during today’s trading.

Currently the U.S. dollar is traded up against many major currencies.

Euros to USD is falling by 0.32% to 1.3174 as of 14:02*.

British Pound to U.S. dollar exchange rate is traded at 1.5807 a 0.42% decrease as of 14:02*.

Current gold price (April 2012 delivery) is traded at $1,637.3 per t oz. a $13 decrease as of 14:02*.

(* GMT)

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