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    US: Initial Jobless Claims increased more than expected last week

    Source Fxstreet
    Feb 15, 2024 13:44
    • Initial Jobless Claims rose by 212K from a week earlier.
    • Continuing Jobless Claims rose more than estimated..

    US citizens that applied for unemployment insurance benefits increased by 212K in the week ending February 10 according to the US Department of Labor (DoL) on Thursday. Once again, the prints surpassed consensus and follow a 220K gain in the previous week.

    Further details of the publication revealed that the advance seasonally adjusted insured unemployment rate was 1.3% (from 1.2%) and the 4-week moving average stood at 218.50K, an increase of 5.750K from the previous week's revised average.

    In addition, Continuing Claims rose by 30K to 1.895M in the week ended February 3.

    Market reaction

    The US Dollar Index accelerated its losses and revisited the 104.40 region following the release, all amidst the broader bearish trend seen so far on Thursday.

    Disclaimer: For information purposes only. Past performance is not indicative of future results.
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    In an interview with Bloomberg on Thursday, European Central Bank (ECB) Governing Council member Klaas Knot said that he expects a "cautious slide" in key rates after June.
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    Source  Fxstreet
    Japanese Prime Minister Fumio Kishida said on Friday that he “discussed strengthening supply chains, diplomatic and security issues during the summit with US and Filipino leaders.” Additional quotes No decision on whether to hold the trilateral summit regularly but agreed that these meetings are important.
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    Breaking: FOMC Minutes show concerns over inflation persistDuring the FOMC Minutes, participants expressed general uncertainty about the persistence of elevated inflation and indicated that recent data did not increase their confidence in inflation trending sustainably towards the 2% target.
    Source  Fxstreet
    During the FOMC Minutes, participants expressed general uncertainty about the persistence of elevated inflation and indicated that recent data did not increase their confidence in inflation trending sustainably towards the 2% target.
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