Source: ForexYard
The U.S dollar experienced further declines after a report regarding jobless claims produced figures of 380,000. the Jobless claims report is one that involves individuals who filed for unemployment insurance for the first time during the previous week.
The 17-nation Euro took advantage of the dollar set back and made gains to $1,3161 from the lower rate of approximately $1,3100 which it was trading during Wednesday’s late session. The Bullion market has also taken advantage of the weakening U.S dollar as both gold and silver have strengthened today.
Elsewhere, the Canadian Dollar appreciated over its U.S counterpart today due to positive news out of Australia after releasing an improved employment report. The Canadian currency also know as the “loonie” will benefit from positive movements from commodity currencies such as the Australian Dollar.
Forex Market Analysis provided by ForexYard.
© 2006 by FxYard Ltd
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