US: Initial Jobless Claims rose more than estimated last week

Initial Jobless Claims rose by 238K vs. the previous week.
Continuing Jobless Claims increased by more than 1.80M.

Pablo Piovano FXStreet

US citizens that applied for unemployment insurance benefits increased by 238K in the week ending June 15 according to the US Department of Labor (DoL) on Thursday. The prints surpassed initial estimates (235K) and came in a tad lower than the previous weekly gain of 243K (revised from 242K).

Further details of the publication revealed that the advance seasonally adjusted insured unemployment rate was 1.2% and the 4-week moving average was 232.75K, an increase of 5.5K from the previous week's unrevised average.

In addition, Continuing Claims increased by 15K to 1.828M in the week ended June 8.

Market reaction

The US Dollar Index (DXY) trades with decent gains near the 105.40 region, partially reversing the recent multi-session pullback in the wake of the release of weekly claims.

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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