U.S. Initial Claims Rose to 380k Last Week – April 7

Today, April 12th, the U.S. jobless claims weekly report was published; according to the recent report, the number of initial claims changed direction and rose by 13 thousand for the week ending on April 7th; the total (revised) initial claims reached 380,000 claims (seasonally adjusted data); the four week average also increased to 368,500; the insured unemployment rate remained unchanged at 2.6% for the week ending on March 31st;  the number of insured unemployment reached 3,251 thousand, a decrease of 98,000 compared with the previous week’s figures. Finally, the four week average declined by 35.75 thousand to 3,370 thousand. This recent news of the rise in the U.S. jobless claims coincides with the recent disappointing U.S non-farm labor report that came out at the end of last week. Furthermore, the U.S jobless claims have had a downward trend during previous months (the number of initial claims decreased in six out of the last nine weeks); this news may adversely affect the U.S dollar against other major currencies during today’s trading. Finally, this news may also positively affect the direction of commodities prices including crude oil and gold prices.

Currently the U.S. dollar is traded down against many major currencies including against the Euro, Aussie dollar and Canadian dollar.

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