U.S Jobless Claims Dropped to 359K, Durable Goods Orders Decline sharply by 13.2% - 27.9.2012
The U.S Jobless Claims fell by more than 6 per cent from a revised 385,000 two weeks ago to 359,000 the previous week according to the U.S Labor Department. Market participants were expecting the Unemployment Claims to decrease slightly to 378,000 however the U.S labor sector strengthened more than expected.
At the same time, the Durable Goods Orders decreased by $30.1 billion in August or dropped 13.2 per cent to $198.5 billion compared to a revised 3.3 per cent increase in July according to the Census Bureau. The 13.2 per cent decline is the largest since January 2009 and also is beating economists’ expectations of a 5 per cent in August. Lastly, the Euro gained ground against the US dollar after the worse than expected Durable Goods Orders and jumped from 1.2843 to 1.2893.