US: Initial Jobless Claims increased above estimates last week

• Initial Jobless Claims rose by 222K vs. the previous week.
• Continuing Jobless Claims rose by nearly 1.8M.

US citizens that applied for unemployment insurance benefits increased by 222K in the week ending May 11, according to the US Department of Labor (DoL) on Thursday. The prints came in a tad above the initial consensus (220K) and below the previous weekly gain of 232K (revised from 231K).

In addition, Continuing Claims increased by 13K to 1.794M in the week ended May 4.

Market reaction

The US Dollar Index (DXY) maintains its daily bounce and flirts with the 104.50 region amidst the mixed performance of US yields across the curve.