- Initial requests for unemployment benefits fell to 186,000, less than the 205,000 expected.
- Continued requests rise by 20,000 to maximums in three weeks.
- The dollar marks highs after economic data, but then changes trend.
The Department of Labor reported that the initial claims for unemployment benefits they were down 6,000 for the week ending January 21 at 186,000, better than the 205,000 market consensus. It is the lowest reading since April 2022.
The continued claims for unemployment benefits they were up 20,000 in the week ending January 14 to 1,675,000, higher than the 1,659,000 market consensus. It is the second weekly rise in a row, reaching the highest level in three weeks.
Along with this report, the first estimate of GDP growth for the fourth quarter, foreign trade data and durable goods orders were released. The dollar gained momentum after the data and set daily highs, although after a few minutes it returned much of the gains.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
