U.S. Initial Claims Declined to 365k Last Week – May 3rd

Today, May 3rd, the U.S. jobless claims weekly report was published; according to the recent weekly update, the number of initial claims declined by 27 thousand for the week ending on April 28th; the total initial claims reached 365,000 claims (seasonally adjusted data); the four week average increased to 383,500; the insured unemployment rate remained unchanged at 2.6% for the week ending on April 21st;  the number of insured unemployment reached 3,276 thousand, a decrease of 53,000 compared with the previous week’s figures. Finally, the four week average declined by 18,250 to 3,297 thousand. This recent news of the sharp drop in the U.S. jobless claims may affect during the rest of the daily on the trading of the U.S dollar consequently may positively affect commodities prices and U.S stock markets, but adversely affect gold and silver prices.

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

Euros to USD is at 1.3158 as of 15:19*.

British Pound to U.S. dollar is traded at 1.6182 a 0.11% decrease as of 15:18*.

Current gold price (June 2012 delivery) is traded at $1,637.8 per t oz. a $16.2 decrease as of 15:00*.

(* GMT)

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