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USA: Weekly unemployment benefit claims moderate to 222,000 in the week of May 10 compared to the expected 220,000

The US weekly jobless claims have fallen by 10,000 during the week of May 10, standing at 222,000, as published by the Department of Labor. The previous week's figure has been revised upwards to 232,000 from 231,000. The data exceeds market expectations, which forecast 220,000.

The four-week average of jobless claims has risen to 217,750 from 215,250, its highest level in three months.

The continued unemployment claims have risen to 1,794,000 from 1,781,000, exceeding the estimated 1,780,000. This is its highest level in four weeks.

dollar reaction

The Dollar Index (DXY) has reacted higher following the release, rising to new highs for the day at 104.52. At the time of writing, the index is trading above 104.51 points, gaining 0.21% on the day.

Source: Fx Street

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