U.S. Dollar Mixed After Higher Jobless Claims and NY

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The U.S. Department of Labor reported that Weekly Initial Jobless Claims had increased by 17,000 claims in the week ending on October 18th.

Weekly jobless claims rose to 283K, compared to an expected decline to 269K and with the previous number revised slight higher from 264K to 266K. The four week average for jobless claims came to 281K, which is the lowest average seen since May of 2000. People receiving benefits for the second month in a row also hit a 14 year low of 2.35 million.

The U.S. Dollar fell against the Japanese Yen but was mostly higher against other majors in early Asian trading today.  Safe haven Japanese Yen buying was cited in the wake of the announcement of a New York Ebola virus case, while other factors contributing to the Greenback’s performance were better than expected earnings reports from U.S. bellwether companies, such as General Motors and Caterpillar, and continued expectations of U.S. interest rate hikes sometime next year.

Currency traders will be watching the U.S. Census Bureau’s release of New Home Sales on Friday, which are expected to drop to 473K from a previous reading of 504K.

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Jay Hawk of Orbex enjoyed a twelve year professional financial markets career incorporating extensive first hand futures and options experience obtained by trading in the stock, commodity and forex markets on U.S. exchanges. Jay Hawk personally leased seats and traded as a specialist market-maker with a broker/dealer license on major U.S. trading floors. He also ran stock and options broking desks with hundreds of retail and professional accounts, and I actively managed trading portfolios for private clients as large as $30 million both on and off the trading floors. In addition, Jay started a professional options stock exchange brokerage to provide brokerage services on to floor market-makers and upstairs traders located in New York and Chicago. Jay also gave option seminars as both a consultant and educator and helped start the exchange traded currency options market.

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