- Initial jobless claims rose to 227,000, from 242,000 the previous week.
- Continuing claims for unemployment benefits rose to 1,897,000 in the week ending October 11.
US citizens filing new claims for unemployment insurance increased to 227,000 for the week ending October 18, the US Department of Labor (DoL) reported on Thursday. This was below the consensus forecast and the previous week’s total of 242,000 (revised from 241,000).
The report also highlighted a seasonally adjusted insured unemployment rate of 1.3%, while the four-week moving average rose to 238,500, marking an increase of 2,000 from the previous week’s revised average.
Additionally, continuing claims for unemployment benefits increased by 28,000 to reach 1,897,000 in the week ending October 11.
Market reaction
After reaching new three-month highs near 104.60 the previous day, the US Dollar Index (DXY) now faces a renewed bearish bias and declines towards the proximity of the key support of 104.00.
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.
