Weekly jobless figures were as expected at 479K. In the share markets, NASDAQ was up 41.31 points (2.49%) and the Dow Jones was also up 189 points (2.11%). Looking forward, September Personal Income is expected to be down at 0.1% compared with the previous 0.5%. Fed chief Bernanke is addressing Mortgage Finance at 18:00 GMT.
The Euro had a very wide range day of trading and after breaking through the 1.30 barrier, it surged to 1.33. After the US GDP figures, the Euro weakened off to close at 1.2860. German unemployment is at a 16 year low and looking forward, German Retail sales are expected to come in at -1% compared to +1.9% previously. Preliminary October CPI figures are expected at 3.2% compared to 3.6% previously.
Like the Euro, Sterling broke through resistance at 1.65 reaching a high of 1.6670 and closed at 1.6370. UK house prices have shown a 14.6% decline Y/Y in October. There is speculation from analysts suggesting a 1% rate cut from the next BOE meeting to attack the current crisis.
Gold pared recent gains as the USD strengthened closing at US$738 after trading with a high of US$776.3 and a low of US$735.4.
Crude oil closed at $65.96 per barrel down $1.54.