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  • Weekly Initial Jobless Claims in the US fell by 89,000 last week.
  • US Dollar Index posts modest losses around mid-90s after the data.

There were 803,000 initial claims for unemployment benefits in the US during the week ending December 19, the data published by the US Department of Labor (DOL) revealed on Wednesday.

This reading followed last week’s print of 892,000 (revised from 885,000) and came in much better than the market expectation of 885,000.

Market reaction

The US Dollar Index showed no immediate reaction to this report and was last seen losing 0.1% on the day at 90.57.

Additional takeaways

“The 4-week moving average was 818,250, an increase of 4,000 from the previous week’s revised average.”

“The advance seasonally adjusted insured unemployment rate was 3.6% for the week ending December 12, a decrease of 0.2 percentage point from the previous week’s unrevised rate.”

“The advance number for seasonally adjusted insured unemployment during the week ending December 12 was 5,337,000, a decrease of 170,000 from the previous week’s revised level.”