US: Weekly Initial Jobless Claims rise to 239K vs. 232K expected

Initial Jobless Claims in the US increased by 11,000 in the week ending April 8, to highest since January 2022.
Continuing Jobless Claims decrease by 13,000 in the week ending April 1.
US Dollar Index tumbled to the lowest since early February after US data.

Matías Salord FXStreet

There were 239,000 initial jobless claims in the week ending April 8, the weekly data published by the US Department of Labor (DOL) showed on Thursday. This print followed the previous week's unrevised print of 228,000 and came in above the market expectation of 232,000. It is the highest level since January 15, 2022.

"The 4-week moving average was 240,000, an increase of 2,250 from the previous week's unrevised average of 237,750. This is the highest level for this average since November 20, 2021 when it was 249,250", the DOL said.

Continuing Claims decline by 13,000 in the week ended April 1 to 1.810 million, above the 1.814 million of market consensus.

"The 4-week moving average was 1,813,500, an increase of 9,500 from the previous week's unrevised average of 1,804,000. This is the highest level for this average since November 13, 2021 when it was 2,007,000," the DOL noted.

Market reaction

The US Dollar Index tumbled to fresh monthly lows, approaching 101.00, after claims and also alongside lower-than-expected inflation data.

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

AUD/USD keeps the red near 0.6950 after weak Aussie jobs data

AUD/USD holds losses near 0.6950 on disappointing Australian jobs data, extending the previous day's retracement slide from the monthly high and hitting a fresh weekly low during Thursday’s Asian session. Meanwhile, declining US bond yields drag the US Dollar away from the April 2025 high, touched after Wednesday's hot US CPI, helping limit losses for the currency pair.

USD/JPY slides back below 158.00 as USD reverses post-CPI gains

USD/JPY extends the previous day's pullback from a three-week high, attracting follow-through selling and sliding below 158.00 during Thursday's Asian session. Traders remain on high alert amid speculation that authorities will step in to prop up the Japanese Yen. The US Dollar, meanwhile, reverses Wednesday's hot CPI-led gains to April 2025 highs as US bond yields retreat on China bond-buying talk, further pressuring the pair.

Gold shrugs off hot US PPI as risk aversion drives bond yields lower

Gold attracts fresh buying on Thursday as weakness across global equities, driven by mounting concerns over AI-related investments, triggers a sharp pullback in US Treasury yields and drags the US Dollar lower from fresh year-to-date highs.

Ripple clings to $1.30 support as downside risks intensify

Ripple is stuck in a bearish trend, trading near $1.30 on Thursday. The remittance token’s bearish shift reflects the broader cryptocurrency market, which remains under heavy selling amid concerns about accelerating inflation in the US.

Budget preview: Is Healey impressing the bond market?

There is less than 2 weeks to go before the Chancellor delivers his first budget. Unusually for the UK, the economic and financial backdrop to this budget is upbeat. UK bonds have been rallying, the FTSE 100 is the top performing major stock index this week, and the Pound is also stabilising versus the Dollar.

Has Bitcoin really escaped the macro forces it was built to fight?

Over 17 years ago, Satoshi Nakamoto designed Bitcoin (BTC) on the back of a global financial crisis as an alternative to the global monetary system outside the control of central banks, governments and traditional intermediaries. This raises a key question: has Bitcoin really become independent of the macroeconomic forces it was built to challenge?