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US initial jobless claims remained low in the week ended 16 June, inching 3k lower to 218k, points out the research team at Nomura.

Key Quotes

“Importantly, this reference week corresponds to the BLS survey week for the June employment report; the low reading would be supportive of a healthy gain in payroll employment.”

“Continuing claims increased 22k for the week ending 9 June, still 23k below the reading from one month ago. Overall, today’s weekly claims data is consistent with continued labor market strength.”