Weekly report on US jobless claims was released today at 1:30 pm BST. Market was expecting an initial claims reading of 225k, slightly higher than 220k reported in the previous week. Continuing claims were seen climbing from 1688k to 1692k. Actual data turned out to be a surprise with initial claims coming in at just 201k while continuing claims dropped to 1662k. Simultaneously, Philadelphia Fed business index for September was released and it showed a drop from 12 to -13.5 (exp. -1.0).
A hawkish reaction could be spotted in the markets - USD gained and indices moved lower. However, scale of moves was minimal.
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Source: xStation5
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