US: Initial Jobless Claims fell to 213K last week

Initial Jobless Claims rose below consensus to 213K.
Continuing Jobless Claims decreased to 1.85M in the week ending February 1.

Pablo Piovano FXStreet

US citizens filing new applications for unemployment insurance dropped to 213K for the week ending February 8, as reported by the US Department of Labor (DoL) on Thursday. This print missed initial estimates and was lower than the previous week's revised tally of 220K (from 219K).

The report also highlighted a seasonally adjusted insured unemployment rate of 1.2%, while the four-week moving average dropped to 216.00K, marking a decrease of 1K from the prior week’s revised average.

Moreover, Continuing Jobless Claims went down by 36K to reach 1.850M for the week ending February 1.

Market reaction

The Greenback maintains its bearish attitude around 107.80 when tracked by the US Dollar Index (DXY), managing to bounce off earlier weekly lows near 107.50.

(This story was corrected on February 13 at 14:00 GMT to say that Initial Jobless Claims fell to 213K, not rose, and Continuing Jobless Claims decreased to 1.85M, not climbed.)

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.

AUD/USD hovers around 0.7050 as focus shifts to US GDP and PCE data

AUD/USD holds steady around mid-0.7000s in the Asian session on Thursday, trading just below the one-month high it touched the previous day, as November RBA rate hike bets continue to support the Australian Dollar. Meanwhile, the US Dollar reverses part of Wednesday's post-FOMC corrective slide and caps the currency pair as traders now look to US GDP and the PCE Price Index.

USD/JPY retakes 158.00 as USD stalls the post-FOMC corrective slide

USD/JPY attracts some dip-buyers during the Asian session on Thursday, climbing back above 158.00 as the US Dollar reverses part of the post-FOMC pullback from a two-week high. Bulls, however, await key US macro data – the Advance Q3 GDP and the PCE Price Index – before positioning for further gains. Focus will then shift to the crucial BoJ policy update on Friday amid firming expectations for a December rate hike.

Gold weakens below $4,050 amid renewed USD buying ahead of crucial US data

Gold slides back below $4,050 during the Asian session on Thursday, snapping a three-day winning streak. The US Dollar regains positive traction after Wednesday’s post-FOMC corrective slide as elevated energy prices keep December rate-hike bets firmly on the table. Moreover, geopolitical risks underpin the safe-haven buck, weighing on bullion as traders now look to crucial US data – the Advance Q3 GDP and the PCE Price Index.

Bitcoin volatility falls to 2023 lows, Glassnode says

Bitcoin climbed above $81,000 on Wednesday as the Federal Reserve (Fed) kept interest rates unchanged at 3.75%–4.00% in a 10–2 vote. The decision came as the top crypto's realized volatility fell to levels last seen in the summer of 2023.

Fed's recap: A cautious hold with a clear warning on inflation

The Federal Reserve (Fed) held its policy rate steady at 3.75%-4.00%, but it wasn’t a unanimous decision. Among two officials who wanted a 25-basis-point hike were Lisa Cook and Beth Hammack, while Chair Kevin Warsh said the Fed would use the coming flow of information to decide whether further action is needed. The statement presented a resilient economy.

Anthropic pledged $270 billion to Amazon, Google, and Microsoft. Here's who actually gets paid

Anthropic owes Amazon, Google, and Microsoft at least $269.4 billion for computing power, even if it uses less. All three sell its models and handle its billing, and Amazon and Google own stakes and lend it money, so they get paid regardless of how the IPO goes. The Dario Amodei-led Anthropic filed its initial public offering (IPO) on Monday, seeking a listing on the Nasdaq under the ticker ANT.