- Initial jobless claims at highest level since mid-February.
- Continued orders mark new lows since 1970.
- The dollar loses strength after data on wholesale inflation and subsidies.
The Department of Labor reported that initial claims for unemployment benefits they increased by 1,000 in the week ended May 7 to 203,000, a reading higher than the 195,000 market consensus. This is the highest figure since mid-February.
The continued claims for unemployment benefit registered a reduction of 44,000 in the week ended April 30 to 1,343,000, less than the 1.38 million expected. It is the lowest reading since 1970..
Along with this report, the one on wholesale inflation came out. The dollar lost strength after the data and favored a correction, which led to trim gains. Against the yen, it extended losses.
Source: Fx Street
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