News Headline Summary

US Initial Jobless Claims (Jan 26) W/W 368K vs. Exp. 350K (Prev. 330K)

Reaction details (13:40)

- In reaction to the higher than expected jobless claims:
- emini S&P fell 1 point from 1492.5 to 1491.25 before quickly paring due to the expected increase being largely expected.
- T-notes moved 3+ ticks higher to 131.18 in reaction before paring to trade back at preannounced levels.
- Spot gold gained USD 5.68 to at USD 1677.68 before paring; trades USD 1674.17 last.

Analysis details (13:38)

- Initial claims were expected to to have increased due to being very low for the last two weeks. In the past, initial jobless claims have fallen in early to mid January due to processing delays following the Christmas period and have then picked up again as the extra filings work their way through the system.

31 Jan 2013 - 13:30 - - Source: Newswires

Subscribe Now to RANsquawk

Click here for a 1 week free trial

RANsquawk provides audio news and commentary for over 15,000 professional traders and brokers worldwide. Services include: