Jobless Claims Rise in the US

Greenback lower in currency trading

Jobless claims are higher in the US, rising sharply as concerns about the economy come to the fore. Jobless claims rose to 377,000 in the week ending January 21, 2012, and that is causing some concern.

Worries about the US economy, which include a slightly disappointing GDP figure from the fourth quarter of 2011, are once again sending the greenback lower in currency trading.

Indeed, US dollar is lower against the euro in forex trading, as well as against other currencies, including the pound and commodity currencies. The dollar index is lower, but things may change as the day progresses. Dollar has been hit, but this news also usually means a reduction in risk appetite. As a result, the greenback could soon turn around as Forex traders look for safe haven. 

See Also

• Economic News and the US Dollar
  Currency trading news and information