US: Weekly Initial Jobless Claims rise to 745K vs. 750K expected

• Weekly Initial Jobless Claims in the US rose by 9,000.
• US Dollar Index stays in the positive territory above 91.00.

There were 745,000 initial claims for unemployment benefits in the  US  during the week ending February 27, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed the previous print of 736,000 (revised from 730,000) and came in better  than the market expectation of 750,000.

Market reaction

The US Dollar Index showed no immediate reaction to this report and was last seen gaining 0.22% on the day at 91.15.

Additional takeaways

“The 4-week moving average was 790,750, a decrease of 16,750 from the previous week’s revised average.”

“The advance seasonally adjusted insured unemployment rate was 3.0% for the week ending February 20.”

“The advance number for seasonally adjusted insured unemployment during the week ending February 20 was 4,295,000, a decrease of 124,000 from the previous week’s unrevised level of 4,419,000.”