US weekly Initial Jobless Claims rise to 247K vs. 235K expected
Source Fxstreet
- Initial Jobless Claims in the US rose by 8,000 in the week ending May 31.
- The US Dollar Index declines toward 98.50 after the data.
There were 247,000 initial jobless claims in the week ending May 31, according to data published Thursday by the United States (US) Department of Labor (DOL). This figure followed the previous week's print of 239,000 (revised from 240,000) and came in worse than the market expectation of 235,000.
Further details of the publication revealed that the advance seasonally adjusted insured unemployment rate was 1.2%.
"The advance number for seasonally adjusted insured unemployment during the week ending May 24 was 1,904,000, a decrease of 3,000 from the previous week's revised level," the DOL noted in its press release.
Market reaction
The US Dollar stays under bearish pressure after this data. At the time of press, the USD Index was down 0.2% on the day at 98.62.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
China sends warning to BYD and its rivals amid heightened price warsChinese authorities summoned executives from the country’s major electric vehicle (EV) manufacturers, including industry leader BYD Co., to a closed-door meeting in Beijing this week, according to people familiar with the matter, cited by Bloomberg.
Chinese authorities summoned executives from the country’s major electric vehicle (EV) manufacturers, including industry leader BYD Co., to a closed-door meeting in Beijing this week, according to people familiar with the matter, cited by Bloomberg.
New Zealand Dollar’s upside attempts were capped at 0.6180 on Thursday, and the pair is extending the reversal on Friday, against a somewhat firmer US Dollar, which brings the 0.6000 support area back into focus.
Solana Price Forecast: SOL tests $140 support zone amid rising selling pressureSolana (SOL) edges higher by 2% at press time on Friday as it avoids a drop to the $140 support zone. However, the Solana price trend is approaching its second consecutive bearish week close, following a near 6% drop on Thursday.
Solana (SOL) edges higher by 2% at press time on Friday as it avoids a drop to the $140 support zone. However, the Solana price trend is approaching its second consecutive bearish week close, following a near 6% drop on Thursday.
The US Dollar Index (DXY) is showing a moderately positive tone on Friday, with investors trimming US Dollar lows ahead of May’s US Nonfarm Payrolls release.
U.S. stock futures edged higher on Friday as markets awaited the critical May nonfarm payrolls report and signs emerged that the escalating feud between President Donald Trump and Elon Musk may be cooling.
