U.S. initial jobless claims fell to 359,000

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Source: Bloomberg
The number of Americans who filed jobless benefits claims fell more than expected and reached a two-month low in the week ending September 22, the U.S. Department of Labor reported. Initial jobless claims dropped by 26,000 to a seasonally adjusted 359,000, compared to expectations for a fall of 7,000 to 378,000, while down from 385,000 in the previous week.
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Thu, 27 Sep 2012 16:46:30 GMT

U.S. GDP contracted in Q2

The world's biggest economy grew less than predicted during the second quarter of 2012, as consumer spending and business investment declined, the Bureau of Economic Analysis said on Thursday. Nation's gross domestic product increased at a seasonally adjusted annual rate of 1.3%, down from a previous estimate of 1.7%.

Thu, 27 Sep 2012 17:08:29 GMT

Cable pushes higher on disappointing U.S. data

On Thursday, the British Pound pushed higher versus the U.S. dollar on disappointing U.S. and optimistic U.K. data. GBP/USD hit 1.6236 and subsequently consolidated at 1.6224, which was a 0.37% increase for the European afternoon session. The pair's support was likely to be found at 1.6138, while the resistance was prone to be at 1.6310.

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