US: Weekly Initial Jobless Claims drop to 360K as expected
- Weekly Initial Jobless Claims in the US declined by 26,000.
- US Dollar Index stays in the positive territory above 92.50.
There were 360,000 initial claims for unemployment benefits in the US during the week ending July 10, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed the previous print of 386,000 (revised from 373,000) and came in line with the market expectation.
Market reaction
The US Dollar Index preserves its bullish momentum after this report and was last seen rising 0.2% on the day at 92.54.
Additional takeaways
"The 4-week moving average was 382,500, a decrease of 14,500 from the previous week's revised average."
"The advance seasonally adjusted insured unemployment rate was 2.4% for the week ending July 3, unchanged from the previous week's unrevised rate."
"The advance number for seasonally adjusted insured unemployment during the week ending July 3 was 3,241,000, a decrease of 126,000 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.
