US: 1.3 million Americans applied for unemployment benefits last week

Weekly Initial Jobless Claims in US decreased by 10,000 last week.
US Dollar Index posts small daily gains above 96.00.

Eren Sengezer FXStreet

There were 1,300,000 Initial Claims for unemployment benefits in the US during the week ending July 11th, the data published by the US Department of Labor (DOL) revealed on Thursday.

This reading followed the previous week's print of 1,310,000 (revised from 1,314,000) and came in slightly worse than the market expectation of 1,250,000.

Market reaction

The greenback largely ignored this report and the US Dollar Index was last seen gaining 0.09% on the day at 96.12.

Additional takeaways

"The 4-week moving average was 1,375,000, a decrease of 60,000 from the previous week's revised average."

"The advance seasonally adjusted insured unemployment rate was 11.9% for the week ending July 4, a decrease of 0.3 percentage point from the previous week's revised rate."

"The advance number for seasonally adjusted insured unemployment during the week ending July 4 was 17,338,000, a decrease of 422,000 from the previous week's revised level."

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.

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