U.S Jobless Claims down by 16K
The Euro is seen tumbling towards the downwards direction, the currency against the U.S Dollar managed to plunge to 1.40 levels; whereas it used to trade at 1.43 just yesterday.
EUR/USD traded the majority of the day along the lines of 1.40. Reasoning for this can be put upon complications in Greece as the debt in Europe is receiving all the spotlight. The pair pushed a litte higher after the U.S Unemployment Claims, Building Permits and Housing Starts; trading at 1.4131.
Building Permits were released much better than expected, as prediction by economics were expected at 550,000, a little less than last month's 560,000. Instead, Building Permits pleasantly surprised with 610,000 news residential building permits.
Unemployment Claims were also positively released. Not seen often, jobless claims were reduced by 16,000 from last week's figure of 430,000. This week, even lower than expectations of 421,000, jobless claims fell to 414,000.
Housing Starts grew slightly up to 560,000 while expected to stay the same with previous month's 540,000.
USD/JPY saw movement soon after the news was released. The Dollar jumped higher aginst the Japanese Yen. After the Jobless Claims that came in, the pair jumped to 80.90. Currently, the same pair fell slightly to 80.85.
