- Initial claims for US jobless benefits decreased by 2,000 in the week ending February 25.
- The Dollar Index is holding on to strong daily gains near 105.00.
The week ending February 25 saw 190,000 initial claims for unemployment benefits, according to weekly data released Thursday by the United States Department of Labor. The figure was slightly higher than market expectations, which expected 195,000 applications.
Other details in the release revealed that the seasonally adjusted advance insured unemployment rate was 1.1% and the 4-week moving average was 193,000, an increase of 1,750 from the previous week’s unrevised average.
“The seasonally adjusted forward insured unemployment figure for the week ending February 18 was 1,655,000, a decrease of 5,000 from the revised level of the previous week,” the DOL said.
Market reaction
Following this report, the US dollar continues to outperform its main rivals, with the Dollar Index last up 0.65% on the day, sitting at 105.05.
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.
