US: Weekly Initial Jobless Claims decline to 376K vs. 370K expected

• Weekly Initial Jobless Claims in the US decreased by 9,000.
• US Dollar Index stays in the positive territory above 90.20.

There were 376,000 initial claims for unemployment benefits in the US during the week ending June 5, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading came in weaker than the market expectation of 370,000 and followed the previous print of 385,000.

Market reaction

Supported by the higher-than-expected Consumer Price Index (CPI) data, the US Dollar Index is rising 0.1% on the day at 90.22.

Additional takeaways

"The 4-week moving average was 402,500, a decrease of 25,500 from the previous week's unrevised average of 428,000."

"The advance seasonally adjusted insured unemployment rate was 2.5% for the week ending May 29, a decrease of 0.2 percentage point from the previous week's unrevised rate."

"The advance number for seasonally adjusted insured unemployment during the week ending May 29 was 3,499,000, a decrease of 258,000 from the previous week's revised level."