US initial claims increased last week – September 15

Yesterday, the U.S. jobless claims weekly report was published and showed an increase in initial claims of 11,000 for the week ending on September 10th; the total initial claims reached 428,000 claims (seasonally adjusted data); the four week average also inclined by 4,000 to 419,500; the insured unemployment rate remained unchanged at 3.0% for the week ending on September 3rd; and the number of insured unemployment reached 3.726 million, a decrease of 12,000 compared with the previous week’s number; the four week average on the other hand inclined by 1,250 to 3.741 million.

This news doesn’t look well for the US economy’s recovery or to the US Labor market, and might be among the news items that would have affected traders yesterday if not for the announcement of ECB to provide US dollar loans to European based banks until the end of 2011 that may have eclipsed other news items; that being said, currently the US dollar is traded up against major currencies including the Euro.

Euros to USD is currently traded down at 1.3797 a 0.5725% decrease as of 09:36*.

USD to Canadian dollar exchange rate is traded up at 0.9856 a 0.2097% increase as of 09:36*.

Current gold price, short term futures (October 2011 delivery) is traded at $1,777.80 per t oz. a $3.6 decrease or 0.20%, as of 09:22*.

(* GMT)

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