US: Initial Jobless Claims increased less than expected last week

•  Initial Jobless Claims rose to 227K, down from the previous week’s 242K.
• Continuing Jobless Claims climbed to 1.897M in the week ending October 11.

US citizens filing new applications for unemployment insurance rose to 227K for the week ending October 18, as reported by the US Department of Labor (DoL) on Thursday. This print came in below the consensus forecast and the previous week’s tally of 242K (revised from 241K).

The report also highlighted a seasonally adjusted insured unemployment rate of 1.3%, while the four-week moving average climbed to 238.50K, marking an increase of 2K from the prior week’s revised average.

Moreover, Continuing Jobless Claims increased by 28K to reach 1.897M for the week ending October 11.

Market reaction

Following the move to new three-month tops near 104.60 in the previous day, the US Dollar Index (DXY) now faces some renewed downward bias and comes all the way down to the proximity of the 104.00 key support.