US Jobless Claims Below 1 Million for 3rd Week

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The number of Americans filling for unemployment benefits was 0.860 million in the week ended September 12th, compared to 0.884 million in the previous week, bringing total claims above 60.0 million since March 21st when the coronavirus pandemic started in the US. Today’s reading came in slightly above market expectations of 0.850 million and still 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 12.62 million, while analysts expected a drop to 13.0 million.

EURUSD saw relatively small reaction to today’s data releases. The most popular currency pair continues to trade around 1.18 level. Source: xStation5

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