US: Initial Jobless Claims matched consensus at 229K last week

Initial Jobless Claims came in at 229K.
Continuing Jobless Claims rose to 1.881M.

Pablo Piovano FXStreet

US citizens filing new applications for unemployment insurance held steady at 229K for the week ending May 10, as reported by the US Department of Labor (DOL) on Thursday. This print matched initial estimates and the previous week's revised tally of 229K (revised from 228K).

The report also highlighted a seasonally adjusted insured unemployment rate of 1.2%, while the four-week moving average increased by 3.250K to 230.5K from the prior week’s revised average.

Moreover, Continuing Jobless Claims went up by 9K to reach 1.881M for the week ending May 3.

Market reaction

The Greenback keeps its bearish tone in place on Thursday, navigating the area just below the 101.00 barrier, reversing Wednesday’s advance.

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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