According to weekly data released by the US Department of Labor (DOL) on Thursday, there were 216,000 initial unemployment claims in the week ending September 2. This figure surpassed the market’s forecast of 234,000 and followed the previous week’s revised figure of 229,000 (from 228,000).

The advance seasonally adjusted insured unemployment rate decreased to 1.1% from 1.2%, and the 4-week moving average decreased by 8,500 from the previous week’s amended average to 229,250.

“The advance number for seasonally adjusted insured unemployment during the week ending August 26 was 1,679,000, a decrease of 40,000 from the previous week’s revised level,” the publication added.

Market response
After this data, the US Dollar Index continues to climb and was last seen trading at its highest level since early March at 105.12, up 0.27% on the day.

Initial Claims for Unemployment Insurance in the United States decreased by 13,000 during the week ending September 2.
After the release of the data, the US Dollar Index ascended to new multi-month highs above 105.00.

By admin

Leave a Reply

Your email address will not be published. Required fields are marked *