US: Weekly Initial Jobless Claims decline to 847K vs. 875K expected

• Weekly Initial Jobless Claims in the US increased by 67,000.
• US Dollar Index stays in the green a little below 91.00.

There were 847,000 initial claims for unemployment benefits in the US during the week ending January 23, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed the previous print of 914,000 (revised from 900,000) and came in better than the market expectation of 875,000.

Market reaction

The greenback showed no immediate reaction to this report and the US Dollar Index was last seen gaining 0.14% on the day at 90.77.

Additional takeaways

“The 4-week moving average was 868,000, an increase of 16,250 from the previous week’s revised average.”

“The advance seasonally adjusted insured unemployment rate was 3.4% for the week ending January 16.”

“The advance number for seasonally adjusted insured unemployment during the week ending January 16 was 4,771,000, a decrease of 203,000 from the previous week’s revised level.”