US: Initial Jobless Claims rose to 222K last week

Initial Jobless Claims ticked higher to 222K.
Continuing Jobless Claims dropped to 1.841M.

Pablo Piovano FXStreet

US citizens filing new applications for unemployment insurance increased to 222K for the week ending April 19, as reported by the US Department of Labor (DOL) on Thursday. This print came in just above initial estimates and was higher than the previous week's revised tally of 216K (revised from 215K).

The report also highlighted a seasonally adjusted insured unemployment rate of 1.2%, while the four-week moving average decreased by 750 to 220.25K from the prior week’s revised average.

Moreover, Continuing Jobless Claims went down by 37K to reach 1.841M for the week ending April 12.

Market reaction

The Greenback keeps its downside momentum in place on Thursday, hovering around the 99.40 zone amid a correction from two consecutive days of gains.

BRANDED CONTENT

Choosing a broker that aligns with your trading needs can significantly impact performance. Our list of the best regulated brokers highlights the best options for seamless and cost-effective trading.

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.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD drops to daily lows near 1.1630

EUR/USD now loses some traction and slips back to the area of daily lows around 1.1630 on the back of a mild bounce in the US Dollar. Fresh US data, including the September PCE inflation numbers and the latest read on December consumer sentiment, didn’t really move the needle, so the pair is still on course to finish the week with a respectable gain.

GBP/USD trims gains, recedes toward 1.3320

GBP/USD is struggling to keep its daily advance, coming under fresh pressure and retreating to the 1.3320 zone following a mild bullish attempt in the Greenback. Even though US consumer sentiment surprised to the upside, the US Dollar isn’t getting much love, as traders are far more interested in what the Fed will say next week.

Gold makes a U-turn, back to $4,200

Gold is now losing the grip and receding to the key $4,200 region per troy ounce following some signs of life in the Greenback and a marked bounce in US Treasury yields across the board. The positive outlook for the precious metal, however, remains underpinned by steady bets for extra easing by the Fed.