US weekly Initial Jobless Claims rise to 205K vs. 215K expected

• Initial Jobless Claims in the US increased by 2,000 in the week ending December 16.
• US Dollar Index stays under modest bearish pressure, drops below 102.00.

There were 205,000 initial jobless claims in the week ending December 16, the weekly data published by the US Department of Labor (DOL) showed on Thursday. This print followed the previous week’s print of 203,000 (revised from 202,000) and came in better than the market expectation of 215,000.

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 212,000, a decrease of 1,500 from the previous week’s revised average.

“The advance number for seasonally adjusted insured unemployment during the week ending December 9 was 1,865,000, a decrease of 1,000 from the previous week’s revised level.” the publication read.

Market reaction

The US Dollar Index edged lower in the early American session and was last seen losing 0.5% on the day at 101.92.