Forex

The negative release of the Initial jobless claims reinforced concerns over the American economy rehabilitation

By Forex-Metal

Asian and European trading sessions:

Euro: On Thursday the European Central Bank announced of its decision to leave the principal rate at the previous level of 1.00%.

US Dollar: The market participants’ expectations of the reduction in the US Initial jobless claims today’s publication supported the American dollar, and the EUR/USD pair decreased to the $1,3120 range.

British Pound: According to the expectations, the Bank of England left the principal rate unchanged at the level of 0.50%. The GBP/USD pair continued to trade a little below the maximums of $1.5924 level.

Japanese Yen: The yen rate strengthened against the major currencies as the concerns over the stress-test results of the Chinese banks increased.

New Zealand Dollar: The released yesterday New-Zealand unemployment rate  showed unexpected growth to 6.8%, while the forecasted increase was only to 6.2% from the previous volume of 6.0%. As a result, the national currency rate dropped, since the probability of the principal rate increase by the Reserve Bank reduced.

Oil: During the morning trading the oil stayed above the $82 price per barrel. The concerns over the rehabilitation rate slow-down for the raw materials’ demand pressure the oil rate.

Gold: Gold trades a little below its yesterday’s maximums of $1202.80.

American trading session:

US Dollar: The negative release of the Initial jobless claims reinforced concerns over the rehabilitation of the American economy. The published statistics showed unexpected jobless claims growth to 479K compared to forecasted 455K. European stock markets dropped as all financial markets were under pressure.

Japanese Yen: The released US fundamentals increased the demand for the Japanese yen, as a safe-haven currency.