Dollar Rises; Unemployment Claims Fell to 363000

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Dollar Rises; Unemployment Claims Fell to 363000

By : Indra | 01 Nov 2012, 19:57 | A A A
(Vibiznews-FX) – Continuing from yesterday’s trading , the U.S. Dollar rises against Japanese Yen today (01/11, 12.40 GMT). The currency opened at 79.87 in early trading (00:00 GMT), and USD/JPY elevates + 19 pips or about + 0.24% at 80.06.
The positive sentiment toward Dollar seems to increase, after Department of Labor announced a decrease in the number of individuals who filed for unemployment insurance for the first time during the past week.
Unemployment Claims diminished to 363K from previous period 372K. The latest report show a better than expected result, while some economists estimated the indicator might only down to 371K . The market drives the currency to rise higher as a respond to the latest situation.
Vibiz Consulting Analyst said the normal range of USD/JPY is estimated to have the support level at 79.38 and resistance level at 80.23. Meanwhile other report shows that company in the U.S added 158,000 workers in October, according to a private report based on payrolls. ADP Research Institute reported the increase in employment was higher than forecast.
Dollar daily gain is expected in USD/JPY today’s trading.

(Indra Yudistira/IYD/vbn)

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