Upbeat US jobless claims may not last

US jobless claims fell last week to 323,000, their lowest in two months and below the expected 335,000, from 344,000 the week before (revised from 339,000).

Jobless claims refer to the number of people signing up for unemployment benefit for the first time.

Continuing jobless claims were at 2.876m, however - higher than the expected 2.870m and from 2.874m the previous week.

The dollar got an initial lift on the upbeat data, although economist are saying that the results are temporary, and next week will see a reversal in the pace of firings.

Meanwhile, in line with estimates, the US producer price index dropped 0.2 per cent in October, following September's 0.1 per cent decrease.