The weekly figures provided by the US Department of Labor (DOL) on Thursday indicated that initial jobless claims reached 264,000 in the week ending June 17. The figure comes in above market predictions of 260,000 and follows the prior week’s 262,000 (raised to 264,000). It corresponds to the highest reading since October 20, 2021.
“The 4-week moving average was 255,750, up 8,500 from the revised average from the previous week.” This is the highest average level since November 13, 2021, when it reached 260,000.”
Continuing Claims have decreased. by 13,000 in the week ended June 10 to 1.759 million, falling short of market expectations of 1.782 million. The 4-week moving average was 1,770,000, a 7,500 drop from the corrected average from the prior week.
Market reaction on Initial jobless
Following the release of the figures, the US Dollar fell across the board. The DXY set new weekly lows below 102.00.
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