US weekly Initial Jobless Claims rise to 209K vs. 210K expected

Initial Jobless Claims in the US increased by 2,000 in the week ending October 7.
Continuing Claims increased by 30,000 in the week ending September 30.
US Dollar Index rose toward 106.00 after the data and consumer inflation figures.

Matías Salord FXStreet

There were 209,000 initial jobless claims in the week ending October 7, the weekly data published by the US Department of Labor (DOL) showed on Thursday. This reading matched last week’s print (revised from 207,000) and came in slightly better than the market expectation of 210,000. The 4-week moving average was 206,250, a decrease of 3,000.

Continuing claims rose by 30,000 in the week ending September 30 to 1.702 million, above market expectations of 1.68 million. It is the highest reading in six weeks.

Market reaction

At the same time, the US Consumer Price Index for September was released. The US Dollar rose across the board, boosted by higher-than-expected inflation figures. The DXY approached 106.00, up 0.23% for the day.

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

EUR/USD stays weak near 1.1850 after dismal German ZEW data

EUR/USD remains in the red near 1.1850 in the European session on Tuesday. A broad US Dollar bullish consolidation combined with a softer risk tone keep the pair undermined alongside downbeat German ZEW sentiment readings for February.

GBP/USD holds losees near 1.3600 after weak UK jobs report

GBP/USD is holding moderate losses near the 1.3600 level in Tuesday's European trading. The United Kingdom employment data suggested worsening labor market conditions, bolstering bets for a BoE interest rate cut next month. This narrative keeps the Pound Sterling under bearish pressure.

Gold pares intraday losses; keeps the red above $4,900 amid receding safe-haven demand

Gold (XAU/USD) attracts some follow-through selling for the second straight day and dives to over a one-week low, around the $4,858 area, heading into the European session on Tuesday.

Canada CPI expected to show sticky inflation in January, still above BoC’s target

Economists see the headline CPI rising by 2.4% in a year to January, still above the BoC’s target and matching December’s increase. On a monthly basis, prices are expected to rise by 0.1%.

The week ahead: Key inflation readings and why the AI trade could be overdone

It is likely to be a quiet start to the week, with US markets closed on Monday for Presidents Day. European markets are higher across the board and gold is clinging to the $5,000 level after the tamer than expected CPI report in the US reduced haven flows to precious metals.

Stellar mixed sentiment caps recovery

Stellar price remains under pressure, trading at $0.170 on Tuesday after failing to close above the key resistance on Sunday. The derivatives metric supports the bearish sentiment, with XLM’s short bets rising among traders and funding rates turning negative.