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- US: Weekly Initial Jobless Claims decline to 217K vs. 220K expected
US: Weekly Initial Jobless Claims decline to 217K vs. 220K expected
- Initial Jobless Claims in the US fell by 1,000 in the week ending October 29.
- US Dollar Index registers strong daily gains above 113.00 after the data.
There were 217,000 initial jobless claims in the week ending October 29, the weekly data published by the US Department of Labor (DOL) showed on Thursday. This print followed the previous week's print of 218,000 (revised from 217,000) and came in slightly better than the market expectation of 220,000.
Further details of the publication revealed that the advance seasonally adjusted insured unemployment rate was 1% and the 4-week moving average was 218,750, a decrease of 500 from the previous week's unrevised average.
"The advance number for seasonally adjusted insured unemployment during the week ending October 22 was 1,485,000, an increase of 47,000 from the previous week's unrevised level of 1,438,000," the DOL further noted in its publication.
Market reaction
US Dollar Index preserves its bullish momentum and trades at 113.05 after this data, rising 0.85% on a daily basis.
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