US: Weekly Initial Jobless Claims rise to 185K vs. 171K expected
- Initial Claims were a tad higher than expected at 185K versus 171K forecasted.
- The DXY continues to strength as markets react post-ECB policy announcement.
There were 185,000 initial jobless claims in the US on the week ending April 9, the latest report from the US Department of Labour showed on Thursday. That was a little above expectations for a rise to 171,000 from 167,000 one week prior. The four-week average number of initial jobless claims rose slightly to 172,250 from 170,2050 a week earlier.
Continued Jobless Claims fell in the week ending April 2, to 1.475M from 1.523M a week earlier, larger than the expected drop to 1.5M. The Insured Unemployment Rate was unchanged at 1.1% that week as a result.
Market Reaction
The DXY – already on the front foot amid a dovish reaction to the ECB policy announcement that led to the euro weakening against the US dollar – is extending gains to the upside and is eyeing a break back above 100 in wake of the latest US Retail Sales and jobless claims figures.
Author
Joel Frank
Independent Analyst
Joel Frank is an economics graduate from the University of Birmingham and has worked as a full-time financial market analyst since 2018, specialising in the coverage of how developments in the global economy impact financial asset
