US weekly Initial Jobless Claims decline to 209K vs. 218K expected

Initial Jobless Claims in the US decreased by 1,000 in the week ending March 9.
US Dollar Index clings to small daily gains near 103.00.

Eren Sengezer FXStreet

There were 209,000 initial jobless claims in the week ending March 9, the weekly data published by the US Department of Labor (DOL) showed on Thursday. This print followed the previous week's print of 210,000 (revised from 217,000) and came in better than the market expectation of 218,000.

Further details of the publication revealed that the advance seasonally adjusted insured unemployment rate was 1.2% and the 4-week moving average stood at 208,000, a decrease of 500 from the previous week's revised average.

"The advance number for seasonally adjusted insured unemployment during the week ending March 2 was 1,811,000, an increase of 17,000 from the previous week's revised level" the publication read.

Market reaction

The US Dollar Index clings to modest daily gains near 103.00 in the early American session.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

GBP/USD slides below 1.3250 after failing to break through 23.6% Fibo

The GBP/USD pair meets with a fresh supply during the Asian session on Wednesday and moves away from a nearly two-week high around the 1.3275 region, touched the previous day. Spot prices currently trade around the 1.3235 zone, down 0.20% for the day, as traders look to speeches from Bank of England Governor Andrew Bailey and Federal Reserve Chair Kevin Warsh for a fresh impetus.

EUR/USD declines to near 1.1400 as softer German inflation undercuts ECB hike bets

The EUR/USD pair loses momentum to near 1.1410 during the early Asian trading hours on Wednesday, pressured by receding bets for aggressive tightening by the European Central Bank (ECB). Traders will take more cues from the preliminary reading of the Harmonized Index of Consumer Prices from the Eurozone and US Manufacturing Purchasing Managers Index report, which are due later in the day.

Gold's path of least resistance remains to downside ahead of Warsh

Gold comes under renewed selling pressure early Wednesday and gives up $4,000 yet again. The US Dollar stands tall on surging USD/JPY, Mideast woes and hawkish Fed bets. Gold remains poised to crack November 2025 lows near $3,930 amid bearish technicals.

Stellar, Pyth Network extend rebound amid broader market stress

The broader cryptocurrency market remains heavy, with Bitcoin trading below $59,000 at press time on Wednesday, as US President Donald Trump weighs an all-out war with Iran but opts for diplomatic talks. Meanwhile, Stellar and Pyth Network emerge as bullish outliers over the last 24 hours.

Why a hawkish Bank of Japan could trigger the next Bitcoin sell-off

The Japanese Yen hits a 40-year low of 162.00 against the US Dollar, raising concerns about intervention or additional rate hikes by the Bank of Japan. BoJ may sell US Treasuries to buy back Yen, potentially pushing US bond yields higher and making Bitcoin less attractive to investors.

Kevin Warsh isn't expected to say much in Sintra: That's exactly why markets will listen

Financial markets could find an important catalyst in the enchanting, fairytale-like landscape of Sintra this week. The ECB Forum will, as it does every year, gather the crème de la crème of central banks. The new boss at the Fed, who has clearly said that the Fed should stop explaining everything, will need to talk – and traders should listen.