U.S. Initial Claims Rose Last Week – January 12

Today, January 12th, the U.S. jobless claims weekly report was published; the report showed an increase in initial claims of 24,000 for the week ending on January 7th; the total initial claims reached 399,000 claims (seasonally adjusted data); the four week average increased by 7,750 to 381,750; the insured unemployment rate remained unchanged  at 2.9% for the week ending on December 31st;  the number of insured unemployment reached 3.628 million, an increase of 19,000 compared with the previous week’s figure; furthermore, the four week average remained unchanged  at 3.609 million. This news may affect the currency forex trading during the day and may help with the current depreciation of the US dollar.

Currently the U.S. dollar is traded down against major currencies.

Euros to USD is traded sharply up at 1.2820 a 0.8944% increase as of 16:34*.

Canadian dollar to USD exchange rate is traded at 1.0207 a 0.1089% increase as of 16:34*.

Current gold price, short term futures (February 2012 delivery) is traded at $1,656.3 per t oz. a $17.1 increase or 1.04%, as of 16:18*.

(* GMT)

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