28, October 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

Stocks continued their upward movement on last Thursday as U.S. economic data underlined that there will not be monetary stimulus in the foreseeable future, in addition company earnings profit brought some positive news.

Economic data showed that Initial Jobless Claims fell less than it was expected in recent weeks, although analysts noted an underrun in California. On Tuesday, the data showed that employers added fewer jobs than expected in September. North America: Requests for unemployment benefits dropped to 350 thousand

As shown by the U.S. Department of Labor Initial Jobless Claims fell by 12 thousand to 350 thousand per week, compared with an expected 340 thousand and 362 thousand (revised from 358 thousand ) previously.

Euro set a fresh high, but was knocked out of the track after the region's PMI showed a surprising slowdown. EUR/USD rose to 1.3825 high on improving risk appetite and continues to be traded near the 1.3800 figure.

The British pound rose to $ 1.6170 from 1.6164 in volatile trade. The Japanese yen, which rose as a refuge for purchases on Wednesday, has not changed much at the level 97.39 against the dollar.