US initial Jobless claims ticks lower as Sandy’s effect starts to fade

Initial Jobless claims came out at 410k, in line with expected levels but less than the previous 451k (revised from 439k).

Continuing claims slipped from 3.367 million (revised up from 3.334 million) to 3.337million.

The EUR/USD continues it drive higher after rising from session lows at 1.2736. We now await for the Michigan Consumer Sentiment shortly.

Good day






IMOH, Clement