BREAKING: US GDP growth unrevised at 6.4%. Jobless claims rise unexpectedly

The US economy grew by an annualized 6.4% in the first quarter, following a 4.3 % expansion in the previous three-month period, matching second estimate. Markets were expecting a reading of 6.4%.

The number of Americans filling for unemployment benefits was 0.411 million in the week ended June 19th, compared to 0.412 million rise reported in the previous week. Today’s reading came in above market expectations of 0.380 million.

Continuing claims reading, which lags initial jobless claims data by one week, dropped to 3.390 million, while analysts expected a decrease to 3.470 million. Today’s reading still remains much above the 1.7 million average reported before the pandemic.

EURUSD rose after today's data releases and is heading towards resistance at 1.1988. Source:xStation5

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