Excerpt from: GFT News
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| May 14, 2009 | | Unemployment continues to plague economic recovery hopes | Last week, the U.S. jobs data showed improvement, with weekly unemployment claims dropping. This week, however, the old story of rising jobless claims has returned.
Just days after U.S. economic leaders proclaimed that "green shoots" of economic recovery are showing, the economic data has been continuing to deteriorate. Retail sales numbers for April came in, off forecast, showing a decline. And today it appears that unemployment claims are surging again. This news puts a damper on some of the recent optimism for an economic recovery that begins in the near future.
On the news, the U.S. dollar has begun rising again in forex trading. Risk aversion is making another appearance, and the greenback is gaining as forex traders seek a safe haven.
| Topic Tags: dollar forex trading, economic data, forex traders, forex trading, green shoots, retail sales, U.S. dollar, U.S. jobs data, unemployment | |
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