- Unemployment subsidy requests fall modestly, in line with expectations.
- Current account deficit rises more than estimated in the first quarter.
- The dollar loses strength at the start of the American session.
The Department of Labor reported that initial claims for unemployment benefits they fell by 2,000 in the week ended June 18 to 229,000, slightly above the 227,000 market consensus. It is the lowest reading in three weeks.
As regards the continued claims for unemployment benefit, these increased by 5,000 in the week ended June 11 to 1,315,000, in line with analyst expectations. It is the highest level in four weeks, although they remain close to the recent low. The four-week average stood at 1,310,000, the lowest level since January 1970.
At the same time, a greater than expected increase in the first quarter current account deficit which went from 224,000 million dollars to 291,400 million, setting a new record.
The dollar it pulled back after the data, recounting gains against most of its rivals and posting new daily lows against the yen.
The June flash report of the S&P Global PMI and the Kansas Fed manufacturing index will be released later on Thursday. Jerome Powell, the chairman of the Federal Reserve will speak again in Congress.
Source: Fx Street
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