Breaking: 6.6 million Americans applied for unemployment benefits last week
There were 6,606,000 Initial Claims for unemployment benefits in the US during the week ending April 4th, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed last week's record-high print of 6,867,000 (revised from 6,648,000) and came in worse than the market expectation of 5,250,000.
Key takeaways
"The 4-week moving average was 4,265,500, an increase of 1,598,750 from the previous week's revised average."
"The advance number for seasonally adjusted insured unemployment during the week ending March 28 was 7,455,000, an increase of 4,396,000 from the previous week's revised level."
Market reaction
Markets largely ignored this reading and the US Dollar Index was last seen posting small daily losses at 100.03, erasing 0.15% on the day.
Author
Eren Sengezer
FXStreet
As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.
