FXstreet.com (Barcelona) - U.S. markets have opened with moderate gains on Thursday despite larger than expected jobless claims volume the last week of August; Euro and Pound have eased from intra-day highs.
Dow Jones Industrials Index rises 0.41%, while the Nasdaq Index adds 0.34%, and the S&P Index trades 0.48% above its opening level in the first minutes of trading.
On the macroeconomic area, U.S, the total number of jobless claims dropped by 4K on the week of 29 of August to 570,000 claims, from upwardly revised 574,000 claims in the previous week, the total volume of initial jobless claims remains at high levels, showing that U.S. labor market improves at a very slow pace.
Furthermore, Â¡The ECB has decided to keep rates on hold at 1% after their monthly Monetary Policy Meeting, while Triched affirmed that there are signs of economic recovery in the Euro Area although economic recovery will be gradual and uneven.
Euro and Pound ease from day highs
EUR/USD recovery from 1.4190 low on Wednesday extended to an intra-day high at 1.4348 ahead of the ECB monetary policy decision, and the Euro pulled back to 1.4275 low on the back of Jobless claims data and Trichet's speech. At the moment of writing, the Euro trades around 1.4285.
GBP/USD rallied from 1.6115 low on Friday to erase Tuesday's losses reaching past 1.6375 high ti a fresh intra-week high at 1.6412, to ease later to levels around 1.6350.
USD/JPY has continued picking up from 91.95 6-week low hit on Asian session, and the pair has reached 92.60 intra-day high during early U.S. session and struggles at the moment to break above the 50 hour SMA.