US: Weekly Initial Jobless Claims edge lower to 411K vs. 380K expected

  • Weekly Initial Jobless Claims in the US declined by 7,000.
  • US Dollar Index stays in the negative territory near 91.70.

There were 411,000 initial claims for unemployment benefits in the US during the week ending June 19, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading came in weaker than the market expectation of 380,000 and followed the previous print of 418,000 (revised from 412,000).

Market reaction

This report doesn’t seem to be having a significant impact on the USD’s performance against its major rivals. As of writing, the US Dollar Index was down 0.08% on the day at 91.71.

Additional takeaways

“The 4-week moving average was 397,750, an increase of 1,500 from the previous week’s revised average.”

“The advance seasonally adjusted insured unemployment rate was 2.4% for the week ending June 12, a decrease of 0.1 percentage point from the previous week’s unrevised rate.”

“The advance number for seasonally adjusted insured unemployment during the week ending June 12 was 3,390,000, a decrease of 144,000 from the previous week’s revised level.”

Source

Leave a Reply

Your email address will not be published. Required fields are marked *