US: Weekly Initial Jobless Claims drop to 364K vs. 393K expected

• Weekly Initial Jobless Claims in the US declined by 51,000.
• US Dollar Index stays in a consolidation phase below 92.50.

There were 364,000 initial claims for unemployment benefits in the US during the week ending June 26, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading came in better than the market expectation of 393,000 and followed the previous print of 415,000 (revised from 411,000).

Market reaction

The US Dollar Index showed no immediate reaction to this report and was last seen posting small daily losses at 92.34.

Additional takeaways

"The 4-week moving average was 392,750, a decrease of 6,000 from the previous week's revised average."

"The advance seasonally adjusted insured unemployment rate was 2.5% for the week ending June 19, unchanged from the previous week's revised rate."

"The advance number for seasonally adjusted insured unemployment during the week ending June 19 was 3,469,000, an increase of 56,000 from the previous week's revised level."