US: Weekly Initial Jobless Claims decline to 576K vs. 700K expected

• Weekly Initial Jobless Claims in the US decreased by 193,000.
• US Dollar Index stays relatively calm around 91.60.

There were 576,000 initial claims for unemployment benefits in the US during the week ending April 10, the data published by the US Department of Labor (DOL) revealed on Thursday.  This was the lowest reading in one year and followed the previous print of 769,000 (revised from 744,000) while coming in better than the market expectation of 700,000.

Market reaction

The US Dollar Index largely ignored this report and was last seen staying flat on the day a little above 91.60.

Additional takeaways

“The 4-week moving average was 683,000, a decrease of 47,250 from the previous week’s revised average.”

“The advance seasonally adjusted insured unemployment rate was 2.7% for the week ending April 3.”

“The advance number for seasonally adjusted insured unemployment during the week ending April 3 was 3,731,000, an increase of 4,000 from the previous week’s revised level.”