US: Weekly Initial Jobless Claims decline to 239K vs. 265K expected
|- Initial Jobless Claims in the US decreased by 26,000 in the week ending June 24.
- US Continuing Claims decline unexpectedly in the week ended June 17.
- US Dollar gains momentum after Jobless Claims and the final estimate of Q1 GDP.
Initial Jobless claims totaled 239,000 in the week ending June 24, the weekly data published by the US Department of Labor (DOL) showed on Thursday. The print follows the previous week's 264,000 (revised to 265,000 – the highest since 2021) and came in below market expectations of 265,000. It represents the lowest level in four weeks.
“The 4-week moving average was 257,500, an increase of 1,500 from the previous week's revised average. This is the highest level for this average since November 13, 2021 when it was 260,000.”
Continuing Claims declined by 19,000 in the week ended June 17 to 1.742 million below market estimates of 1.765 million.
Market reaction:
The US Dollar rose across the board after Jobless Claims and Q1 GDP data. The DXY rose back above 103.00, approaching to weekly highs.
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