U.S Jobless Claims Fall to 350K - 12.7.2012

The U.S Jobless Claims dropped by more than 6 per cent from a revised 376,000 two weeks ago to 350,000 the previous week according to the U.S Labor Department. Market participants were expecting the Unemployment Claims to remain unchanged at 376,000, however the U.S labor sector showed better than projected improvement, reducing by 26,000. Furthermore, the 350,000 Jobless Claims is the lowest level since February 2008. Additionally, the two weeks ago Jobless Claims were revised from 374,000 to 376,000. Lastly, the US dollar index continued the uptrend and rose today from 83.41 to 83.81 supported further by the better than expected Jobless Claims.