U.S. Initial Claims Slipped Last Week – October 27

Today, the U.S. jobless claims weekly report was published today, October 27th and showed a slight decrease in initial claims of 2,000 for the week ending on October 22nd; the total initial claims reached 402,000 claims (seasonally adjusted data); the four week average also slipped by 1,750 to 403,750; the insured unemployment rate fell by 0.1 percent point to 2.9% for the week ending on October 15th;  the number of insured unemployment reached 3.645 million, a decrease of 96,000 compared with the previous week’s figure; the four week average also declined by 26,750 to 3.727 million. This news might affect the U.S Dollar during the day even tough the news of the EU debt resolution and the U.S GDP growth rate report for Q3 are likely to better influence the forex and commodities markets today.

Currently the stock markets in U.S. are traded sharply up and the U.S. dollar is plunging against major currencies including the Euro, GBP and AUD.

Euros to USD is currently traded down at 1.4115 a 1.5013% increase as of 15:24*.

AUD to USD exchange rate is traded at 1.0667 a 2.57% increase as of 15:24*.

Current gold price, short term futures (November 2011 delivery) is traded at $1,729.2 per t oz. a $5.7 increase or 0.33%, as of 15:16*.

(* GMT)

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