By CountingPips.com
U.S. weekly jobless claims decreased by less than expected in the week that ended on May 28th, according to a release by the U.S. Labor Department today. New jobless claims fell by 6,000 workers to a total of 422,000 unemployed workers following the previous week’s 428,000 initial jobless claims. The 4-week moving average of unemployed workers decreased by 14,000 workers from the previous week to a total of 425,500.
Market forecasts were expecting jobless claims to edge down to 417,000 workers for the week.
Meanwhile, workers seeking continuing claims for unemployment benefits for the week ending May 21st also decreased for the week. Continuing claims declined by 1,000 workers to a total of 3,711,000 unemployed workers. The four week moving average of continuing claims decreased by 10,000 workers to a total of 3,737,750.
US Dollar trades mostly lower. Stocks, Commodities under pressure today
The U.S. dollar has been mostly lower in trading in the forex markets while the American stock markets have been slightly down on the day. The dollar has fallen versus the euro, Australian dollar, British pound sterling and the Japanese yen, according to currency data in the afternoon of the US trading session. The American currency has been trading close to unchanged on the day against the Swiss franc, New Zealand dollar and the Canadian dollar.
The U.S. stock markets, meanwhile, have been lower today with the Dow Jones dropping around 40 points, the Nasdaq trading nearly unchanged while the S&P 500 is down by over 2 points at time of writing.
In commodities, oil has moved lower to the $99.94 per barrel level while gold futures have fallen by $13.40 to trade at the $1,529.00 per ounce level.
