U.S. unemployment data is better than expected

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Source: Dukascopy
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“The economic indicators suggest that the U.S. isn’t in such bad shape. The market has become too pessimistic about the economy”
- Mitsushige Akino, Ichiyoshi Investment Management Co.

U.S. Labor Department figures showed the rally for unemployment claims to 410,000 from 395,000 in the previous month. The monthly average plunged to the lowest level since August.

Sean Incremona, a senior economist at 4Cast Inc. in New York told “The 400,000 level is sort of a big level; below that is consistent with better labor market progress. At this stage, it does seem like the labour market is stagnating.”

Hiroaki Osakabe, a fund manager at Chibagin Asset Management Co said "The ADP data wasn't bad, which raised expectations that Fri-day's report might not be so bad, and investors are buying back shares ahead of the data."

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