Initial jobless claims rose below last week’s estimates

• Initial jobless claims rose to 227,000, down from 232,000 the previous week.
• Continuous jobless claims rose to 1.838 million in the week ended August 24.

US citizens who newly applied for unemployment insurance benefits reached 227,000 in the week ended August 31, according to the US Department of Labor (DoL) on Thursday. Prints were below the initial consensus (231K) and down from the previous weekly figure of 232K (revised from 231K).

Further details of the release showed that the seasonally adjusted advance unemployment rate was 1.2% and the 4-week moving average was 230,000, down 1,750,000 from the previous week’s revised average.

In addition, continuing claims fell by 22,000 to 1,838,000 in the week ending August 24.

Market reaction

The US Dollar Index (DXY) remains under constant downside pressure and challenges key support at 101.00.