US: Initial Jobless Claims rose less than expected last week

Initial Jobless Claims rose by 233K vs. the previous week.
Continuing Jobless Claims rose to 1.875M.

Pablo Piovano FXStreet

US citizens that applied for unemployment insurance benefits increased by 233K in the week ending August 3 according to the US Department of Labor (DoL) on Thursday. The prints came in below initial consensus (240K) and were lower than the previous weekly gain of 250K (revised from 249K).

Further details of the publication revealed that the advance seasonally adjusted insured unemployment rate was 1.2% and the 4-week moving average was 240.75K, an increase of 2.5K from the previous week's revised average.

In addition, Continuing Claims increased by 6K to 1.875M in the week ended July 27.

Market reaction

The US Dollar Index (DXY) maintains its upside bias unchanged and advances to dailuy highs near 103.40 accompanied by extra gains in US yields across the curve.

(This story was corrected on August 8 at 13:21 GMT to say that Continuing Jobless Claims rose to 1.875M, not rose by around 1.870M).

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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