U.S Initial claims down by 12,000

Thursday, 1 September 2011 04:06

The Labor Department in the United States released the actual figure of unemployment claims for the week ending August 27th.  Jobless claims in the U.S fell by 12,000, as economists had expected.

Economists had expected a decline to 409,000 individuals who filed for unemployment insurance during the past week; while individuals filing for unemployment in the prior week accumulated to 421,000.

Euro/U.S Dollar didn't react dramatically to the news release. The pair was trading around 1.4280 during the time of the news released and dropped to 1.4275 only to recover to 1.4280 again. 

A little after the Initial claims reports, EURUSD saw a jump from 1.4280 to 1.4302.  The pair is currently flactuating from 1.4293 to 1.4203.