US: Initial Jobless Claims surpassed expectations last week
Source Fxstreet
- Initial Jobless Claims rose by 242K vs. the previous week.
- Continuing Jobless Claims rose by more than 1.80M.
US citizens that applied for unemployment insurance benefits increased by 242K in the week ending June 8 according to the US Department of Labor (DoL) on Thursday. The prints surpassed initial estimates (225K) and the previous weekly gain of 229K (unrevised).
Further details of the publication revealed that the advance seasonally adjusted insured unemployment rate was 1.2% and the 4-week moving average was 227K, an increase of 4.75K from the previous week's unrevised average.
In addition, Continuing Claims increased by 30K to 1.820M in the week ended June 1.
Market reaction
The US Dollar Index (DXY) trades slightly on the positive tone around 104.80, reversing part of Wednesday’s sharp retracement in the wake of US CPI data and the FOMC event.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Crypto whales are making bold moves heading into May 2025, and three tokens are standing out: Ethereum (ETH), Artificial Superintelligence Alliance (FET), and Onyxcoin (XCN).
US Bitcoin spot exchange-traded funds (ETFs) have seen more inflows this year so far compared to the same point in 2024, according to data.
Nvidia now holds more than 8% of the S&P 500, the largest weight for any one stock in the index since records began in 1981.
The Gold price (XAU/USD) gains momentum to near $3,645 during the early Asian session on Thursday.
Silver price (XAG/USD) gains ground after recovering losses registered in the previous session, trading around $48.40 per troy ounce during the Asian hours on Friday.
