US Initial Jobless Claims dropped to 208K last week
According to a report from the US Department of Labor (DOL) released on Thursday, the number of US citizens submitting new applications for unemployment insurance shrank to 208K for the week ending July 11. The latest print came in below initial estimates (217K) and was lower than the previous week’s 216K (revised from 215K).
Additionally, the 4-week moving average declined by 4.75K, bringing it to 214.25K from the revised average of the previous week (219K).
The report also indicated that Continuing Jobless Claims dropped by 16K to 1.805M for the week ending July 4.
Market reaction
The Greenback regains some composure and reverses two daily pullbacks in a row, lifting the US Dollar Index (DXY) to the 100.60 region.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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