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4 Jan 2024

US: Initial Jobless Claims rose less than expected last week

  • Initial Jobless Claims rose by 202K in the week ending December 30.
  • USD Index regains some balance around 102.50.

US citizens that applied for unemployment insurance benefits increased by 202K in the week ending December 23, showed the US Department of Labor (DOL) on Thursday. The reading came in below market expectations and follows a 220K gain in the previous week.

Further details of the publication revealed that the advance seasonally adjusted insured unemployment rate was 1.2% and the 4-week moving average stood at 207.75K, a decrease of 4.75K from the previous week's revised average.

In addition, Continuing Claims shrank by 31K to 1.855Min the week ended December 23.

Market reaction

The US Dollar Index attempted a rebound to the 102.50 region also following the firmer-than-expected release of the ADP report.

Jan 4, 2024

United States Continuing Jobless Claims registered at 1.855M, below expectations (1.882M) in December 22

United States Continuing Jobless Claims registered at 1.855M, below expectations (1.882M) in December 22
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Jan 4, 2024

Silver Price Analysis: XAG/USD tumbles below $23 as US labor market conditions improve

Silver price (XAG/USD) faces an intense sell-off as the labor market conditions in the United States have improved significantly.
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