BREAKING: US initial jobless claims below estimates

US initial jobless claims data released at 1:30 pm BST showed 1186k million people filing for unemployment insurance for the first time. The reading came below market expectations of 1400k million and below last week's reading of 1435k (revised higher from 1434k). Continuing claims came in at 16107k. While the reading was better than expected, claims remain at a very high level relative to historical data.In spite of a beat, FX markets barely saw any reaction to the release. Stocks caught a bid.

Continuing jobless claims continued to drop while initial claims declined after last week's increase. Source: Macrobond, XTB

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