US: Weekly Initial Jobless Claims decline to 290K vs. 300K expected

Weekly Initial Jobless Claims in US declined by 6,000.
US Dollar Index clings to modest daily gains above 93.60.

Eren Sengezer FXStreet

There were 290,000 initial claims for unemployment benefits in the US during the week ending October 16, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed the previous print of 296,000 (revised from 293,000) and came in better than the market expectation of 300,000.

Market reaction

There was no immediate market reaction to this report and the US Dollar Index was last seen posting modest daily gains at 93.67.

Additional takeaways

"The 4-week moving average was 319,750, a decrease of 15,250 from the previous week's revised average."

"The advance seasonally adjusted insured unemployment rate was 1.8% for the week ending October 9."

"The advance number for seasonally adjusted insured unemployment during the week ending October 9 was 2,481,000, a decrease of 122,000 from the previous week's revised level."

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.

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