U.S Jobless Claims down

Thursday, 21 July 2011 04:02

United States Unemployment Claims were released minutes ago with worse results than economists expected.  The U.S Dollar is weakening by the minute against the Euro.

The number of individuals who filed for unemloyment for the first time during the past week summed up to 418,000, instead of 409,000 initially expected.  10,000 individuals more filed for unemployment this week compared to last week where 408,000 inidivuals claimed unemployment. 

All the focus is on the EU summit, whereas making U.S Jobless Claims irrelevant to the EUR/USD trade.  Nevertheless, the Dollar is falling against the Euro as the pair shot up drastically from 1.4180 to 1.4290 and up to 1.4313.

Currently EUR/USD is trading at 1.4303.