The US Department of Labour (DOL) reported on Thursday that new applications for unemployment insurance fell to 203,000 for the week ending August 22. This figure markedly beat market estimates of 208,000 and represented a decline from the prior week’s revised total of 207,000 (up from the initial reading of 206,000).
The report also showed that the four-week moving average for claims rose by 1,250 to reach 205,500. In addition, continuing jobless claims fell by 18,000 to 1.778 million for the week ending August 15.
Market Reaction
The US Dollar posted modest gains on Thursday as the data crossed the wires. The US Dollar Index (DXY) was seen navigating the 99.20–99.30 trading band, bolstered by a decent bounce in US Treasury yields across the curve.
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