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

By IBTimes Staff Reporter | 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.

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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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