- Initial Jobless Claims in the US decreased by 3,000 in the week ending February 18.
- US Dollar Index stays in positive territory above 104.50.
There were 192,000 initial jobless claims in the week ending February 18, the weekly data published by the US Department of Labor (DOL) showed on Thursday. This print followed the previous week's print of 195,000 (revised from 194,000) and came in slightly better than the market expectation of 200,000.
Further details of the publication revealed that the advance seasonally adjusted insured unemployment rate was 1.1% and the 4-week moving average was 191,250, an increase of 1,500 from the previous week's revised average.
"The advance number for seasonally adjusted insured unemployment during the week ending February 11 was 1,654,000, a decrease of 37,000 from the previous week's revised level," the DOL noted.
Market reaction
The US Dollar stays resilient against its rivals after this data with the US Dollar Index clinging to modest daily gains at around 104.60.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
GBP/USD churns ahead of UK wages and labor figures
GBP/USD churned chart paper just north of 1.3000 on Monday, with markets striking a laid-back tone ahead of key UK data due to release in the first half of the trading week. UK wages and jobs additions are slated for early Tuesday, with UK Consumer Price Index and Producer Price Index inflation in the barrel for Wednesday.
EUR/USD remains depressed below 1.0900, lowest since August 8 amid stronger USD
The EUR/USD pair drifts lower for the second straight day on Tuesday and drops to the 1.0890 area in the last hour, back closer to its lowest level since August 8 touched the previous day. Bearish traders, however, need to wait for a break below the 200-day SMA before placing fresh bets ahead of the key central bank event risk.
Gold price edges lower amid stronger USD, downside potential seems limited
Gold price trades with a negative bias for the second straight day on Tuesday and is pressured by a combination of factors. Traders no longer expect another outsized interest rate cut by the Federal Reserve in November, which had been a key factor behind the recent upswing in the US Treasury bond yields.
Bitcoin targets $70,000 as bullish momentum builds
Bitcoin is retesting its key resistance level, and a solid close above this threshold could fuel its ongoing rally. Meanwhile, Ethereum has successfully breached its resistance, signaling potential upward momentum, while Ripple approaches its crucial resistance barrier.
RBA widely expected to keep key interest rate unchanged amid persisting price pressures
The Reserve Bank of Australia is likely to continue bucking the trend adopted by major central banks of the dovish policy pivot, opting to maintain the policy for the seventh consecutive meeting on Tuesday.
Five best Forex brokers in 2024
VERIFIED Choosing the best Forex broker in 2024 requires careful consideration of certain essential factors. With the wide array of options available, it is crucial to find a broker that aligns with your trading style, experience level, and financial goals.