- Initial Jobless Claims in the US declined by 7,000 in the week ending August 10.
- US Dollar Index rebounds toward 103.00 after the data.
There were 227,000 initial jobless claims in the week ending August 10, the weekly data published by the US Department of Labor (DOL) showed on Thursday. This print followed the previous week's print of 234,000 (revised from 233,000) and came in better than the market expectation of 235,000.
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 236,500, a decrease of 4,500 from the previous week's unrevised average.
"The advance number for seasonally adjusted insured unemployment during the week ending August 3 was 1,864,000, a decrease of 7,000 from the previous week's revised level," the DOL further noted in its publication.
Market reaction
The US Dollar gathered strength against its rivals with the immediate reaction. At the time of press, the US Dollar Index was up 0.4% on the day at 102.97.
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. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
AUD/USD: Tough resistance aligns around 0.6800
AUD/USD gave away some of its Friday’s robust move higher, coming under pressure soon after approaching the key resistance area near 0.6800 on the back of a decent recovery in the Greenback.
EUR/USD: Initial up-barrier comes at 1.1200
EUR/USD could not sustain the earlier move to YTD peaks around 1.1200 and receded to the 1.1150 zone against the backdrop of a bullish attempt in the US Dollar, which came in tandem with higher US yields across the curve.
Gold retains gains above $2,500, higher highs at sight
Gold retreats from the daily high it set above $2,520 but manages to stay afloat above $2,500 on Monday. The 10-year US yield stabilizes near 3.8% and the US Dollar benefits from the negative shift seen in risk sentiment, making it hard for XAU/USD to stretch higher.
Ripple slips under $0.60 whales dump 140 million XRP tokens in seven days
Ripple (XRP) posts a second consecutive session of losses on Monday, dipping under the key psychological support of $0.60, as large-wallet investors seem to have engaged in a selling spree, ushering a correction in the price of XRP Ledger’s native token.
Toncoin price crashes double-digits as Telegram CEO Pavel Durov Arrested
Toncoin (TON) plunged 14% in two days, reaching a low of $5.23 on Sunday. As of Monday, it trades at around $5.73. This bearish sentiment was initiated by the arrest of Pavel Durov, CEO of Telegram, by the Fench authorities on Saturday.
Moneta Markets review 2024: All you need to know
VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.