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US initial jobless claims fall to 215K for week ending July 4
The prior week was revised to 217K, and continuing jobless claims rose to 1.814M for the week ending June 27.
FXStreet, citing a U.S. Department of Labor release on Thursday, said new unemployment insurance applications declined to 215K for the week ending July 4. The print came in below the 218K estimate and was slightly lower than the previous week’s 217K figure, which was revised from 215K.
The report also showed the 4-week moving average fell by 3.75K to 218.75K from the revised average of 222.25K the week before. Continuing jobless claims increased by 8K to 1.814M for the week ending June 27.
FXStreet said the U.S. dollar eased alongside the data, with the Greenback briefly dropping toward new weekly lows near 100.80 on the U.S. Dollar Index (DXY). It linked the move in part to a retracement in crude oil prices, while noting investors are also focused on developments in the Middle East.
The outlet added that labor market conditions are a key input for assessing economic health and can influence currency valuation and monetary policy, given their connection to unemployment, wage growth, and inflation.
It also reiterated the U.S. Federal Reserve’s dual mandate of maximum employment and stable prices, and contrasted that with the European Central Bank’s focus on keeping inflation under control.
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