untitled design

Initial claims for unemployment benefits unexpectedly fall to lows in one year

  • Initial requests for unemployment benefits hit new lows since the pandemic.
  • The dollar remains unchanged.

The Department of Labor reported that Initial claims for unemployment benefits fell by 39,000 in the week ended April 17 to 547,000. The data was better than expected as the market consensus was for an increase to 617,000. It is the lowest reading since the beginning of the pandemic.

Regarding the continued orders, these fell by 34,000 in the week ended April 10 up to 3,674,000. The data was in line with expectations and implied a new low in more than a year.

The dollar remained unchanged after the data. The DXY was trading in neutral ground for the day around 91.10. The Existing Home Sales Report and the Kansas Fed Manufacturing Activity Index will be released later on Thursday.

.

You may also like

Get the latest

Stay Informed: Get the Latest Updates and Insights

 

Most popular