US: Initial Jobless Claims increased below expectations last week

• Initial Jobless Claims rose by 211K from a week earlier.
• Continuing Jobless Claims rose by nearly 1.820M.

US citizens that applied for unemployment insurance benefits increased by 211K in the week ending April 6 according to the US Department of Labor (DoL) on Thursday. The prints came in just below initial estimates (215K) and down from the previous weekly gain (222K revised).

Further details of the publication revealed that the advance seasonally adjusted insured unemployment rate was 1.2% and the 4-week moving average stood at 214.25, a decrease of 0.250K from the previous week's revised average.

In addition, Continuing Claims increased by 28K to 1.817M in the week ended March 30.

Market reaction

The US Dollar Index (DXY) comes under some selling pressure around the 105.10 zone in the wake of the release.