The number of Americans filling for unemployment benefits was 0.779 million in the week ended January 30th, compared to 0.847 million reported in the previous week. Today’s reading came in below market expectations of 0.830 million. Claims are far from 200 thousand level reported back in February as rising COVID-19 cases and new lockdowns across the country continue to threaten the labor market recovery.
Continuing claims reading, which lags initial jobless claims data by one week, decreased to 4.592 million, while analysts expected decrease to 4.7 million. It is the lowest level in continuing jobless claims since March. However today’s reading still remains much above the 1.7 million average reported before the pandemic.
EURUSD saw a relatively small reaction to today’s data releases. The most popular currency pair continued to trade around 1.20 level. Source: xStation5
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