US: Initial Jobless Claims increased above estimates last week

Initial Jobless Claims rose by 222K vs. the previous week.
Continuing Jobless Claims rose by nearly 1.8M.

Pablo Piovano FXStreet

US citizens that applied for unemployment insurance benefits increased by 222K in the week ending May 11, according to the US Department of Labor (DoL) on Thursday. The prints came in a tad above the initial consensus (220K) and below the previous weekly gain of 232K (revised from 231K).

From the press release, the advance seasonally adjusted insured unemployment rate was 1.2% and the 4-week moving average was 217.75K, an increase of 2.5K from the previous week's revised average.

In addition, Continuing Claims increased by 13K to 1.794M in the week ended May 4.

Market reaction

The US Dollar Index (DXY) maintains its daily bounce and flirts with the 104.50 region amidst the mixed performance of US yields across the curve.

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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