BREAKING: US claims trend higher indicating weakening labour market

US jobless claims came higher than analysts's expectations. Jobless Claims:

• Actual: 262K. Expected 250k. Previous 261k.

The number of initial jobless claims for the week ending June 10 was 26k, which is the same as the revised number for the prior week. The previous week's figure was initially reported as 261k, but it was later revised upwards by 1k to 262k

After the publication, the USD reduced its gains against the EUR currency. The labor market is clearly weakening, and recent data is starting to show an upward movement in jobless claims, which will most likely lead to an increase in unemployment in the following months.

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