U.S Jobless Claims Rose to 382K, Annual PPI Advances to 2.0% - 13.9.2012

The U.S Jobless Claims rose by more than 4 per cent from a revised 367,000 two weeks ago to 382,000 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 weakened more than expected, increasing claims for unemployment benefits by 15,000. At the same time, the Producers Price Index non-seasonally adjusted on annual terms, a measure of Inflation rose by 2.0 per cent in August, beating economists forecast of an increase by 1.4 per cent, up from 0.5 per cent in July according to the Bureau of Labor Statistics. Lastly, the US dollar against the Japanese Yen fell to a 7-month low after the release of the surprisingly worse jobless data to 77.42 down from 77.71 that was trading earlier.