Initial jobless claims decreased by 27K to 456K last week. The figure is slightly higher than expectations; analysts predicted a drop to 452K. The data could not wash off the risk-aversion sentiment which continued to damage sensitive currencies in the forex market.
The number for the week ending on April 10 was revised downward to 480K.
Amongst other news, we note an improvement in the price of finished goods and services by producers (PPI) for March. The Department of Labour announced a 0.7% increase; the expected number was 0.4%. Core PPI remained unchanged at 0.1%.
The March Canadian leading index which measures the change in a composite index based on 10 economical indicators rose to 1.0%, higher than the expect 0.8% figure.
The dollar surged shortly after the data. The EUR/USD was pressured down below 1.3300 for the first time in two weeks.
Commodity currencies were hit as well. The USD/CAD failed to remain below parity and the AUD/USD retracted to .9230.
The yen strengthened amid the negative sentiment. The USD/JPY gave away all of its morning gains to fall back below .9300.
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