Initial jobless claims rose more than expected last week

• Initial jobless claims rose by 232,000 from the previous week.
• Continuous jobless claims rose by 1.863 million.

US citizens filing for unemployment insurance benefits rose by 232,000 in the week ended August 17, according to the US Department of Labor (DoL) on Thursday. Impressions came in just above initial consensus (230K) and were higher than the previous week’s gain of 228K (revised from 227K).

Additionally, continuing claims increased by 4K to 1.863 million in the week ending August 10.

Market reaction

The US dollar index (DXY) is extending its daily recovery from Wednesday’s 2024 lows and retesting the 101.40 region amid some mild recovery in US yields across the curve.