The USD continued falling against major currencies on Thursday amid better-than-expected employment data and rising US stocks. US Initial Jobless claims fell to 550,000 last week from 576,000 in the previous week, the Labor Department reported on Thursday. Analysts have expected the claims would fall to 560,000. Total continuing claims fell to 6.088 million, their lowest level since April. US trade deficit jumped 16.3 percent in July, according to the Commerce Department. Imports surged 4.7 percent, mainly due to sharp increases in crude oil and automotive products. Exports rose by 2.2 percent, the third consecutive month of solid gains in exports, corroborating other evidence that the global economy is picking up steam. The increase in the trade deficit should be viewed as a positive development, said analysts of Global Insight. It is a sign that the US economy is accelerating out of recession early in the third quarter. The report added to worries over US deficit, helped pushing the greenback lower. The euro bought 1.4585 USDs in late New York trading compared with 1.4542$s it bought late Wednesday. The GBP rose to 1.6665$s from 1.6530$s. The USD fell to 1.0790 Canadian dollars from 1.0812 Canadian dollars, and fell to 1.0387 Swiss francs from 1.0421 Swiss francs. It fell to 91.74 Japanese yen from 92.13 Japanese yen.
Popularity: unranked [?]
