US Initial Jobless Claims dropped to 206K last week

According to a report from the US Department of Labour (DOL) released on Thursday, the number of US citizens submitting new applications for unemployment insurance decreased to 206K for the week ending September 5. The latest print came in above initial estimates (205K) and was a tad lower than the previous week’s 207K (revised from 206K).

Additionally, the 4-week moving average went down by 1.5K to 206K vs. the previous week’s revised prints.

The report also indicated that Continuing Jobless Claims fell by 1K to 1.774M for the week ending August 29.

Market reaction

The Greenback trades with decent gains, challenging the key 99.00 barrier when gauged by the US Dollar Index (DXY), as investors continue to assess the jobs report as well as wholesale inflation data.