US: Weekly Initial Jobless Claims decline to 498K vs. 540K expected
|- Weekly Initial Jobless Claims in the US decreased by 92,000.
- US Dollar Index stays deep in the negative territory near 91.00.
There were 498,000 initial claims for unemployment benefits in the US during the week ending May 1, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading came in better than the market expectation of 540,000 and followed the previous print of 590,000 (revised from 553,000).
Market reaction
This report doesn't seem to be having a significant impact on the greenback's performance against its rivals. As of writing, the US Dollar Index was down 0.24% on the day at 91.05.
Additional takeaways
"The 4-week moving average was 560,000, a decrease of 61,000 from the previous week's revised average."
"The advance seasonally adjusted insured unemployment rate was 2.6% for the week ending April 24, unchanged from the previous week's unrevised rate."
"The advance number for seasonally adjusted insured unemployment during the week ending April 24 was 3,690,000, an increase of 37,000 from the previous week's revised level."
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