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US: Initial jobless claims rise to highest since late January

  • Mixed data on requests for unemployment benefits.
  • Initial orders at maximum in months, continued at historical lows.
  • The dollar remains weak in the market.

The Department of Labor reported that initial claims for unemployment benefits they increased by 21,000 in the week ending May 14 to 218,000, higher than the expected 200,000 and the highest since January 2022.

The continued subsidy requests they fell by 25,000 in the week ending May 7 to 1,317,000, below the 1.32 million expected and a new low since 1970.

The dollar continued weakness after published data. Later it will be the turn of the report on the sale of existing homes and consumer confidence. Along with the data on unemployment benefits, the Philly Fed was published, which showed a much larger than expected decline.

Source: Fx Street

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