Initial Jobless Claims increased below estimates last week

•  Initial Jobless Claims rose to 227K, below the previous week’s 232K.
• Continuing Jobless Claims increased to 1.838M in the week ending August 24.

US citizens that newly applied for unemployment insurance benefits reached 227K in the week ending August 31, according to the US Department of Labor (DoL) on Thursday. The prints came in below initial consensus (231K) and were lower than the previous weekly figure of 232K (revised from 231K).

Further details of the publication revealed that the advance seasonally-adjusted insured unemployment rate was 1.2% and the 4-week moving average was 230K, a decrease of 1.750K from the previous week’s revised average.

In addition, Continuing Claims decreased by 22K to 1.838M in the week ending August 24.

Market reaction

The US Dollar Index (DXY) remains under constant downside pressure and challenges the key support at 101.00.