The number of Americans filling for unemployment benefits was 881 thousand in the week ended August 29th, compared to 1.006 million in the previous week, bringing total claims above 58.0 million since March 21st when the coronavirus pandemic started in the US. Today’s reading came in below market expectations of 0.950 million and showed the lowest level since the coronavirus crisis began. However today’s reading remains far above 665,000 filed at the peak of the Great Recession in March 2009.
Continuing claims, which lags initial jobless claims data by one week, reach 13.254 million, while analysts expected a drop to 14 million.
Continuing jobless claims continued to drop while initial claims dropped compared to last week's figures. Source: Macrobond, XTB
EURUSD price rose after today's data release and is heading towards 1.1850 resistance level. Source: xStation5 .
