Forex Fundamentals - UK unemployment declines. Swiss economic expectations fall in overall positive data.

December 12, 2007 - Forex Economic News

The United Kingdom's unemployment measurement declined in November with 813,000 people claiming a Jobseeker's Allowance benefit, down 11,100 from October and down 134,200 for the year according to data by the Office for National Statistics. This figure has declined for the 14th month in a row and is at its lowest point since 1975. In September 2007, there was 31.60 million jobs which was the most recorded since 1959 and a gain of 287,000 jobs over the previous year. See the report here.

Meanwhile, a survey by the Credit Suisse Group and the Centre for European Economic Research (ZEW) showed that economic expectations in Switzerland fell 0.8 points in December. Despite the decline in expectations, the measurement of "the current economic situation" improved by 4.5 points compared to last month. The survey is based on the opinions of financial market experts who characterized Switzerland's "economic momentum as good" and displayed a "prevailing positive picture of the overall economic situation." See the report here.

Forex Trading Rates just after Noon EST.

EUR/USD 1.4700
EUR/JPY 165.00
USD/JPY 112.25
AUD/USD 0.8848
USD/CHF 1.1354
GBP/USD 2.0483
AUD/JPY 99.3244
EUR/GBP 0.7177
EUR/CHF 1.6690
CHF/JPY 98.8638

Tags: Office of National Statistics, Swiss Economy, UK unemployment----- Blog index