U.S. Initial Claims Edged Down to 386k Last Week – April 14

Today, April 19th, the U.S. jobless claims weekly report was published; according to the newest weekly update, the adjusted number of initial claims changed direction and edged down by 2 thousand for the week ending on April 14th; the total (revised) initial claims reached 386,000 claims (seasonally adjusted data); the four week average on the other hand increased to 374,750; the insured unemployment rate remained flat at 2.6% for the week ending on April 7th;  the number of insured unemployment reached 3,297 thousand, an increase of 26,000 compared with the previous week’s figures. Finally, the four week average declined by 21.5 thousand to 3,339 thousand.

This recent news of the modest decline in the U.S.jobless claims doesn’t exactly shows much progress; furthermore, since the recent figure was revised up from the previous week, this news might continue the slightly negative market sentiment that started to build up in regards to the progress of U.S’s economy in recent weeks. Note that the U.S jobless claims have had a downward trend during previous months (the number of initial claims decreased in seven out of the last ten weeks); nevertheless, this news may (slightly) adversely affect the U.S dollar against other major currencies during today’s trading. Finally, this news may also positively affect the direction of major precious metals prices including gold and silver prices.

Currently the U.S. dollar is traded down against many major currencies including against the Euro, Aussie dollar and Canadian dollar. Gold and silver prices are moderately rising.

For more on this subject:

Gold and Silver Prices Outlook for April 2012

Leave a Reply

Your email address will not be published. Required fields are marked *