Forex News: Initial Claims and Cont. Claims higher than expectations

Initial Claims 407,000.  4 week moving average goes to 374,500 the highest level since November 2003.

Continuing Claims 2,937,000

Much worse than expectations.  Should weaken stocks and the USD.

During the recession/slow growth period in 2001-2003 period (SEE CHARTS BELOWS), the Initial claims peaked above 500 but centered around the  410,000 area.  This is just one week but it shows weakness that is equivalent with recessionary period.

For Continuing Claims during the same period, the Continuing Claims shot up to 3,800,000 area.  This happens over time and lags the Initial Claims (see charts)