By CountingPips.com
Weekly U.S. jobless claims declined more than expected in the week that ended on November 7th according to a release by the U.S. Labor Department today. New weekly jobless claims fell by 12,000 workers to a total of 502,000 unemployed workers. The previous week saw 514,000 in new unemployment claims. The decrease in claims surpassed economic forecasts that were predicting claims to number 510,000 for the week. The 4-week
Workers seeking continuing claims for unemployment benefits for the week ending October 31st fell by 139,000 to total 5,631,000 unemployed workers. This also surpassed economic forecasts that were expecting 5,700,000 continuing claims for the week. The four week moving average of continuing benefits claims decreased by 100,750 workers to total 5,790,750 workers seeking continued unemployment benefits.
US Dollar gains in Forex Trading today
The U.S. dollar has been stronger in forex trading today against the other major currencies after being under pressure most of the week. The dollar gained today versus the euro, British pound, Japanese yen, Swiss franc, Australian dollar, Canadian dollar and New Zealand dollar at 3:05 pm EST in the US trading session.
The U.S. stock markets have been negative at time of writing with the Dow Jones down by over 80 points, the Nasdaq falling by roughly 14 points and the S&P 500 down by approximately 10 points. Oil has declined today by $2.34 to trading around the $76.95 mark while gold has also fallen by approximately $6.80 today to trade around the $1,108.00 level.
EUR/USD Hourly Chart – The Euro falling versus the US Dollar today in Forex Trading from its upward hourly trajectory. The Euro had gained versus the US Dollar most of this week and touched as high as the 1.5048 level before retreating sharply today to the 1.4860 level.
