US: Initial Jobless Claims decline to 230K vs. 240K expected
- Initial Jobless Claims in the US decreased by 10K in the week ending August 19.
- Continuing Jobless Claims decline by 9K, to 1.702 million in the week ending August 12.
- US Dollar Index stays in positive territory above 103.70.
Initial Jobless Claims totaled 230,000 in the week ending August 19, the weekly data published by the US Department of Labor (DOL) showed on Thursday. It is the lowest reading in three weeks. This follows the previous week's print of 240,000 (revised from 239,000) and came in below the market expectation of 240,000.
Further details of the publication revealed “the 4-week moving average was 236,750, an increase of 2,250 from the previous week's revised average.”
Continuing claims decreased by 9K in the week ending August 12 to 1.702 million, below market expectations of 1.708 million. “The 4-week moving average was 1,697,250, an increase of 5,750 from the previous week's revised average”, the DOL further noted in its publication.
Market reaction
Alongside the Jobless Claims, the Durable Goods Orders and the Chicago Fed National Activity Index were released. The US Dollar Index rose modestly reaching fresh daily highs above 103.75.
Author
Matías Salord
FXStreet
Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.
