Initial Jobless Claims increased more than estimated last week

•  Initial Jobless Claims rose to 258K, up from the previous week’s 225K.
• Continuing Jobless Claims increased to 1.861M in the week ending September 27.

US citizens that newly applied for unemployment insurance benefits reached 258K in the week ending October 4, according to the US Department of Labor (DoL) on Thursday. The prints came in above initial consensus (230K) and were higher than the previous weekly figure of 225K.

Further details of the publication revealed that the advance seasonally adjusted insured unemployment rate was 1.2% and the 4-week moving average was 231K, a increase of 6.75K from the previous week’s unrevised average.

In addition, Continuing Claims rose by 42K to 1.861M in the week ending September 27.

Market reaction

The US Dollar Index (DXY) trades with slight gains around the 103.00 zone following the release of US data.