US: Initial Jobless Claims rose more than estimated last week

Initial Jobless Claims rose by 232K vs. the previous week.
Continuing Jobless Claims rose by 1.863M.

FXStreet Team FXStreet

US citizens that applied for unemployment insurance benefits increased by 232K in the week ending August 17 according to the US Department of Labor (DoL) on Thursday. The prints came in a tad above initial consensus (230K) and were higher than the previous weekly gain of 228K (revised from 227K).

In addition, Continuing Claims increased by 4K to 1.863M in the week ended August 10.

Market reaction

The US Dollar Index (DXY) extends its daily recovery from Wednesday’s 2024 lows and retests the 101.40 region, in the context of some mild rebound in US yields across the curve.

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FXStreet Team

FXStreet

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.