U.S. Initial Claims Edged Down to 367k Last Week – May 10th

Today, May 10th, the U.S. jobless claims weekly report came out; according to the recent weekly report, the number of initial claims nearly didn’t change and edged down by 1 thousand for the week ending on May 5th; the total initial claims reached a revised figure of 367,000 claims (seasonally adjusted data), which is even slightly higher than last week’s published figure; the four week average also decreased to 379,000; the insured unemployment rate also edged down to 2.5% for the week ending on April 28th;  the number of insured unemployment reached 3,229 thousand, a decrease of 61,000 compared with the previous week’s figures. Finally, the four week average declined by 10,500 to 3,229 thousand. This news doesn’t change much the situation in the U.S and doesn’t look well for the progress of theU.S. jobless claims. Furthermore, this report might adversely affect the trading during day of the U.S dollar and consequently may positively affect commodities prices, including gold and silver prices.

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

Euros to USD is at 1.2957 as of 17:00*.

British Pound to U.S. dollar is traded at 1.6158 a 0.19% increase as of 17:00*.

Current gold price (June 2012 delivery) is traded at $1,596 per t oz. a $1.8 increase as of 15:00*.

(* GMT)

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