U.S. Initial Claims Declined Last Week – November 10

The U.S. jobless claims weekly report was published today, November 10th   and presented a decline in initial claims of 10,000 for the week ending on November 4th; the total initial claims reached 390,000 claims (seasonally adjusted data); the four week average also decreased by 5,250 to 400,000; the insured unemployment rate remained at 2.9% for the week ending on October 29th;  the number of insured unemployment reached 3.615 million, a sharp decline of 92,000 compared with the previous week’s figure; the four week average also declined by 19,500 to 3.690 million. This news might influence the currency forex trading during the day even though the news from Europe regarding the political changes in Italy and Greece may crowd out the effect of this report on the forex markets.

Currently the American stock markets in U.S. are traded sharply down and the U.S. dollar is rising against major currencies including the Euro and AUD.

Euros to USD is currently traded up at 1.3627 a 0.628% increase as of 14:08*.

AUD to USD exchange rate is traded at 1.0192 a 0.4796% increase as of 14:08*.

Current gold price, short term futures (December 2011 delivery) is traded at $1,774.6 per t oz. a $17 decrease or 0.95%, as of 13:55*.

(* GMT)

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