US: Initial Jobless Claims increased more than expected last week

• 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.