US: Initial Jobless Claims dropped to 221K last week

Initial Jobless Claims fell below consensus to 221K.
Continuing Jobless Claims rose to 1.897M.

Pablo Piovano FXStreet

US citizens filing new applications for unemployment insurance decreased to 221K for the week ending March 1, as reported by the US Department of Labor (DOL) on Thursday. This print missed initial estimates and was lower than the previous week's unrevised tally of 242K.

The report also highlighted a seasonally adjusted insured unemployment rate of 1.2%, while the four-week moving average rose by 250 to 224.250K from the prior week’s unrevised average.

Moreover, Continuing Jobless Claims went up by 42K to reach 1.897M for the week ending February 22.

Market reaction

The Greenback maintains its bearish attitude in place in the low 104.00s when tracked by the US Dollar Index (DXY), extending further its pronounced weekly retracement.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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