U.S Dollar weakens after GDP release

Thursday, 26 May 2011 04:17

The number of individuals who filed for unemployment insurance for the first time during the past week added up to 424,000 people; 21,000 individuals more than expected. Also, this week’s subtotal was 10,000 people more than last week’s total of unemployment claims filed. Forecasted number of individuals expected to file for unemployment was approximately 403,000; while previous results came out at 414,000.
Another news release for the US was the GDP second release, which also disappointed at 1.8% while it was expected to show a 2.2% release. Gross Domestic Product remained the same as the previous GDP release, both at 1.8%.

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