U.S. markets, slightly higher after upbeat Jobless data; Dollar trimming losses

on December 24 2009 10:12 AM

FXstreet.com (Barcelona) - U.S markets have opened with timid gains after a positive surprise on initial jobless claims, which declined beyond expectations on the week of December 19, which have pushed the Dollar higher, despite weaker than expected orders for durable goods.

Dow Jones Industrials Index adds 0.22%, while the Nasdaq Index advances 0.32%, and the S&P Index trades 0.25% in the first hour of trading.

On the macroeconomic domain, U.S. initial jobless claims have declined by by 28K to 452K in the week of December 19, beating market expectations of a decline by about 9K to 471K, from unrevised 48K on the previous week.

Furthermore, Durable goods orders have advanced 0.2% in November, well below market expectations of a 0.4% increase, weighed by a decline on orders for commercial aircraft. Excluding transportation, jobless orders of all other products have increased 2.0%.

Dollar trims losses after claims data

Euro retreat from intra-week high at 1.4420 has extended below 1.4400 on the back of better than expected U.S. employment5 data, and the pair has tested support at 1.4360/70 -previous week high-, which, so far, remains intact.

GBP/USD retreated from 1.6025 session high, extending to levels below session high to reach 1.5940 low, weighed by Dollar strength after U.S. durable good orders data.

USD/JPY retreat from yesterday's high at 91.85 found support at 91.10 during European session, and the pair has bounced to test session high at 91.75 at the moment of writing.

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