US: Weekly Initial Jobless Claims rise to 264K vs. 260K expected
|- Initial Jobless Claims in the US reach 264K in the week ending June 17, to the highest level since October 2021.
- US Continuing Claims decline unexpectedly in the week ended June 10.
- US Dollar weakens after US economic data.
Initial Jobless claims totaled 264,000 in the week ending June 17, the weekly data published by the US Department of Labor (DOL) showed on Thursday. The print follows the previous week's 262,000 (revised to 264,000) and came in above market expectations of 260,000. It matches the highest reading since October 2021.
“The 4-week moving average was 255,750, an increase of 8,500 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 13,000 in the week ended June 10 to 1.759 million below market estimates of 1.782 million. The 4-week moving average was 1,770,000, a decrease of 7,500 from the previous week's revised average.
Market reaction:
The US Dollar dropped across the board after the numbers. The DXY printed fresh weekly lows under 102.00.
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