Today’s U.S. jobless claims weekly report was published and showed an increase in initial claims by 10,000 for the week ending on May 21st, and it reached 424,000 claims (seasonally adjusted data); the insured unemployment rate declined by 0.1 percent points to 2.9% for the week ending on May 14th; and the number of insured unemployment was 3.690 million, a decrease of 46,000 compared to the previous week’s number.
This news doesn’t look well for the US economy’s recovery, and might be among the news items that influenced today traders as the US dollar weakened compared to major currencies; that being said, major commodities are currently traded down despite that US dollar is currently traded down:
Euro to US dollar conversion rate is currently traded up at 1.4155 a 0.4706% decrease as of 14.51*.
The USD/CAD is also traded up at 0.9813 a 0.4008% rises as of 15.01*.
The Nymex crude oil price, short term futures (June 2011 delivery) is traded at 100.35 USD / barrel, a 0.97 USD/b decrease or 0.96%, as of 15.00*.
Current gold price, short term futures (June 2011 delivery) is traded at 1,521.9 USD / t oz. a 5.9$ decrease or 0.39%, as of 14.51*.
(* GMT)
For more on this subject:
- Weekly outlook for May 23-27
- Will the recent rally in oil prices last? Daily outlook 26 May
- U.S. Petroleum stocks inclined, gasoline prices fell – May 26