Initial Jobless Claims increased more than expected last week

• Initial Jobless Claims rose by 224K from a week earlier.
• Continuing Jobless Claims also surpassed consensus.

US citizens that applied for unemployment insurance benefits increased by 224K in the week ending January 27 according to the US Department of Labor (DoL) on Thursday. Once again, the prints came in above market estimates and follows a 215K gain in the previous week.

Further details of the publication revealed that the advance seasonally adjusted insured unemployment rate was 1.3% and the 4-week moving average stood at 207.75K, a decrease of 5.25K from the previous week’s revised average.

In addition, Continuing Claims increased by 70K to 1.8898M in the week ended January 20.

Market reaction

The US Dollar Index (DXY) comes under some selling pressure, abandonig the area of weekly tops near 103.80.