Jobless claims higher by 5,000

Thursday, 25 August 2011 04:43

For this week ending, intial claims in the United States showed an increase in the number of individuals who filed for unemployment.  Jobless claims increased by 5000 individuals; from 412,000 people in the prior release of week ending August 13 to 417,000 in today's report for week ending August 20.

Unemployment claims were expected to drop to 403,000, as economists had predicted.

The Euro/Dollar reacted with a sudden drop is the pair's price from 1.4430 to 1.4403; however the pair quickly recovered and shot upwards from 1.4420 to 1.4453 in the matter of minutes.  EUR/USD is currently trading 1.4436.