US: Initial Jobless Claims increased less than estimated last week
Source Fxstreet
- Initial Jobless Claims rose by 201K from a week earlier.
- Continuing Jobless Claims also surprised to the downside.
US citizens that applied for unemployment insurance benefits increased by 201K in the week ending February 17 according to the US Department of Labor (DoL) on Thursday. Once again, the prints came in on the strong side and followed a 213K gain in the previous week.
Further details of the publication revealed that the advance seasonally adjusted insured unemployment rate was 1.2% (from 1.3%) and the 4-week moving average stood at 215.25, a decrease of 3.500K from the previous week's revised average.
In addition, Continuing Claims decreased by 27K to 1.862M in the week ended February 10.
Market reaction
The US Dollar Index regained strength and rose to the 104.00 region following the earlier drop to the 103.40 zone.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
On April 23, Eastern Time, Intel (INTC) reported its latest quarterly earnings results, showing that revenue grew 7% to $13.6 billion and earnings per share was $0.29, beating expectation
Gold price (XAU/USD) falls to around $4,690 during the early Asian session on Friday. The precious metal attracts some sellers amid a stronger US Dollar (USD) and elevated oil prices that stoked inflation worries.
Silver Price Forecast: XAG/USD plummets below $76 as oil price posts fresh weekly highSilver price (XAG/USD) is down almost 2.3% to near $76.00 during the European trading session on Thursday. The white metal faces selling pressure as oil prices extends its winning streak for the third trading day on Thursday.
Silver price (XAG/USD) is down almost 2.3% to near $76.00 during the European trading session on Thursday. The white metal faces selling pressure as oil prices extends its winning streak for the third trading day on Thursday.
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – fades an Asian session spike to the $95.80-$95.85 area, or a one-and-a-half-week top, and retreats to the lower end of its daily range in the last hour.
JPMorgan Chase has raised its year-end target for the S&P 500, noting that the core driver is not a simple recovery in sentiment, but rather upward earnings revisions for AI-related techn
