U.S Jobless Claims Surprisingly Fell by 1.6% to 361K, Trade Deficit Narrows to $42.92B, USDJPY Advances - 9.8.2012

The U.S Jobless Claims dropped by more than 1 per cent from a revised 367,000 two weeks ago to 361,000 in the previous week according to the U.S Labor Department. Market participants were expecting the Unemployment Claims to increase slightly to 370,000, however the U.S labor sector unexpectedly strengthened, reducing claims for unemployment benefits by 6,000. Unemployment Claims level holds close to its lowest level in 2012, maintaining the possibility of fresh lows alive. Additionally, Trade Deficit narrowed to $42.92 billion in June down from a revised $48.04 billion in May, market consensus was at $47.4 billion. Lastly, the US dollar jumped against the Japanese Yen after the release of the surprisingly better news to 78.63 up from 78.47 that was trading minutes before.