US: Initial Jobless Claims increased less than expected last week

Initial Jobless Claims rose by 235K vs. the previous week.
Continuing Jobless Claims rose by around 1.850M.

Pablo Piovano FXStreet

US citizens that applied for unemployment insurance benefits increased by 235K in the week ending July 20 according to the US Department of Labor (DoL) on Thursday. The prints came in below initial estimates (238K) and were lower than the previous weekly gain of 245K (revised from 243K).

Further details of the publication revealed that the advance seasonally adjusted insured unemployment rate was 1.2% and the 4-week moving average was 235.50K, an increase of 0.250K from the previous week's revised average.

In addition, Continuing Claims decreased by 9K to 1.851M in the week ended July 13.

Market reaction

The US Dollar Index (DXY) trades with marginal gains around 104.40 against the backdrop of the continuation of the downside pressure in 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.

EUR/USD turns negative near 1.1850

EUR/USD has given up its earlier intraday gains on Thursday and is now struggling to hold above the 1.1850 area. The US Dollar is finding renewed support from a pick-up in risk aversion, while fresh market chatter suggesting Russia could be considering a return to the US Dollar system is also lending the Greenback an extra boost.

GBP/USD change course, nears 1.3600

GBP/USD gives away its daily gains and recedes toward the low-1.3600s on Thursday. Indeed, Cable now struggles to regain some upside traction on the back of the sudden bout of buying interest in the Greenback. In the meantime, investors continue to assess a string of underwhelming UK data releases released earlier in the day.