Weekly report on US jobless claims was released today at 1:30 pm BST. Expectations pointed to a small pick-up in initial jobless claims and continuing claims compared to a previous report. However, actual data came in mixed with initial jobless claims dropping below 200k and continuing claims increasing to above 1730k. Simultaneously, the Philadelphia Fed index for October was released. While the index improved compared to September, it has improved less than expected.
US, jobless claims data
- Initial jobless claims: 198k vs 212k expected (209k previously)
- Continuing claims: 1734k vs 1710k expected (1702k previously)
US, Philadelphia Fed index (October): -9.0 vs -7.0 expected (-13.5 previously)
USD gained in a knee-jerk move with EURUSD moving lower. However, those gains were short-lived with the pair quickly recovering and moving higher. Nevertheless, scale of moves was minimal.
Source: xStation5
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