United States Initial Jobless Claims dropped to 226K 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 shrank to 226K for the week ending June 13. The latest print came in a tad above initial estimates (225K) and was slightly lower than the previous week’s 230K (revised from 229K).
Additionally, the 4-week moving average went up by 4K, bringing it to 223.25K from the revised average of the previous week (219.25K).
The report also indicated that Continuing Jobless Claims increased by 24K to 1.810M for the week ending June 6.
What do US Initial Jobless Claims figures mean for the US Dollar?
The Greenback extends its post-Fed gains and navigates the area of fresh yearly highs around 100.80 when gauged by the US Dollar Index (DXY) on Thursday.
The move higher in the US Dollar (USD) comes in response to rising bets of rate hikes by the Federal Reserve (Fed) later in the year, particularly in the wake of the hawkish hold on Wednesday.
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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