US: Initial Jobless Claims rose more than estimated last week
Source Fxstreet
- Initial Jobless Claims rose by 249K vs. the previous week.
- Continuing Jobless Claims rose by nearly 1.880M.
US citizens that applied for unemployment insurance benefits increased by 249K in the week ending July 27 according to the US Department of Labor (DoL) on Thursday. The prints came in above initial consensus (236K) and were lower than the previous weekly gain of 235K.
Further details of the publication revealed that the advance seasonally adjusted insured unemployment rate was 1.2% and the 4-week moving average was 238.00K, an increase of 2.5K from the previous week's unrevised average.
In addition, Continuing Claims increased by 33K to 1.877M in the week ended July 20.
Market reaction
The US Dollar Index (DXY) comes under some pressure and leaves earlier tops past 104.40 against the backdrop of the incessant move lower in US yields across the curve.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
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.
On-chain data showed that whales are aggressively accumulating more Bitcoin and Ethereum.
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.
Gold (XAU/USD) is trading with a positive bias for the second straight day on Thursday, though it lacks bullish conviction and remains below the $4,000 psychological mark through the Asian session.
Related Instrument
