US: Initial Jobless Claims dropped to 221K last week
|
- Initial Jobless Claims fell below consensus to 221K.
- Continuing Jobless Claims rose to 1.897M.
US citizens filing new applications for unemployment insurance decreased to 221K for the week ending March 1, as reported by the US Department of Labor (DOL) on Thursday. This print missed initial estimates and was lower than the previous week's unrevised tally of 242K.
The report also highlighted a seasonally adjusted insured unemployment rate of 1.2%, while the four-week moving average rose by 250 to 224.250K from the prior week’s unrevised average.
Moreover, Continuing Jobless Claims went up by 42K to reach 1.897M for the week ending February 22.
Market reaction
The Greenback maintains its bearish attitude in place in the low 104.00s when tracked by the US Dollar Index (DXY), extending further its pronounced weekly retracement.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.