US: Weekly Initial Jobless Claims decline to 375K as expected

Weekly Initial Jobless Claims in US declined by 12,000.
US Dollar Index continues to move sideways below 93.00.

Eren Sengezer FXStreet

There were 375,000 initial claims for unemployment benefits in the US during the week ending August 7, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed the previous print of 387,000 (revised from 385,000) and matched the market consensus.

Market reaction

The US Dollar Index showed no immediate reaction to this report and was last seen posting small daily gains at 92.95.

Additional takeaways

"The 4-week moving average was 396,250, an increase of 1,750 from the previous week's revised average."

"The advance seasonally adjusted insured unemployment rate was 2.1% for the week ending July 31, a decrease of 0.1 percentage point from the previous week's revised rate."

"The advance number for seasonally adjusted insured unemployment during the week ending July 31 was 2,866,000, a decrease of 114,000 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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