US: Initial Jobless Claims went up more than anticipated last week

Initial Jobless Claims rose by 221K from a week earlier.
Continuing Jobless Claims were at nearly 1.8M.

Pablo Piovano FXStreet

US citizens that applied for unemployment insurance benefits increased by 221K in the week ending March 30 according to the US Department of Labor (DoL) on Thursday. The prints came in just above initial estimates (214K) and surpassed previous weekly gain (212K).

Further details of the publication revealed that the advance seasonally adjusted insured unemployment rate was 1.2% and the 4-week moving average stood at 214.25K, an increase of 2,750 from the previous week's revised average.

In addition, Continuing Claims decreased by 19K to 1.791M in the week ended March 23.

Market reaction

The US Dollar Index (DXY) remains on the defensive and gradually approaches the key support at 104.00 region.

(This story was corrected on April 4 at 14:30 GMT to say, in the first paragraph, that Initial Jobless Claims didn't match the previous week's reading, but exceeded it. It was also corrected to say, in the second paragraph, that the 4-week moving average is 214.25K, not 212.25. It was also corrected to say, in the third paragraph, that Continuing Claims fell by 19K, not increased by 8K.)

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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