Euro at 4-month low amid unemployment data

Source: Bloomberg
The Eurozone currency depreciated 0.9% to $1.3610 as of 10:48 a.m. in New York, the sharpest fall since June 20, after unemployment data showed a record high 12.2% rate, while the inflation dropped to 0.7% in October, from 1.1% a month earlier, moving far from ECB's 2.0% target. Despite the fact that European economy escaped from recession, the ECB expects slower-pace of recovery.
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Thu, 31 Oct 2013 16:33:05 GMT

Sterling advanced to 6-month high versus Euro amid EU inflation

The Pound appreciated 1.0% to 84.79 pence per Euro as of 3:15 p.m. in London, reaching the highest level since April 25, as the ECB is likely to reduce interest rates next week, to encourage economic growth, which is inhibited by low inflation rate and increasing unemployment. Meanwhile, the currency is traded at $1.6047.

Thu, 31 Oct 2013 16:08:16 GMT

U.S. initial claims for benefits fall as California cleared its applications backlog

Initial claims for unemployment benefits dropped by 10,000 to 340,000 last week, which is 2,000 less than expected, as applications backlog in California, caused by computer system upgrade , has been cleared, Washington Labor Department revealed today. Meanwhile, the number of job-seekers who receive state benefits rose by 31,000 to 2.88 million, two weeks earlier.

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