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US: Initial jobless claims rose less than expected last week

  • Initial claims for unemployment benefits rose by 222,000 from the previous week.
  • Continuing claims for unemployment benefits rose by about 1.85 million.

The number of U.S. citizens filing for unemployment insurance benefits rose by 222,000 in the week ending July 6, the U.S. Department of Labor (DoL) said Thursday. The numbers were lower than initial estimates (236,000) and smaller than the previous weekly increase of 239,000 (revised from 238,000).

Further details of the release revealed that the seasonally adjusted insured unemployment rate was 1.2% and the 4-week moving average was 233,500, a drop of 5,250 from the previous week’s revised average.

Additionally, continuing claims decreased by 4,000 to 1,852,000 in the week ending June 29, better than the 1,860,000 expected by the market.

Market reaction

The Dollar Index (DXY) breaks below 105.00 and plunges to new lows near 104.20 amid an equally sharp pullback in US yields across the curve.

Source: Fx Street

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