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16 Jan 2025

US: Initial Jobless Claims rose to 217K last week

  •  Initial Jobless Claims surpassed consensus and increased to 217K.
  • Continuing Jobless Claims climbed to 1.859M in the week ending January 3.

US citizens filing new applications for unemployment insurance rose to 217K for the week ending January 10, as reported by the US Department of Labor (DoL) on Thursday. This print missed initial estimates and was higher than the previous week's tally of 203K (revised from 201K).

The report also highlighted a seasonally adjusted insured unemployment rate of 1.2%, while the four-week moving average retreated to 212.75K, marking a decrease of 750K from the prior week’s revised average.

Moreover, Continuing Jobless Claims went down by 18K to reach 1.859M for the week ending January 3.

Market reaction

The Greenback maintains the bullish bias in the low-109.00s when tracked by the US Dollar Index (DXY) amid the broad-based recovery in US yields.

 

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Gold soared after economic data from the United States (US) showed that consumer spending remained solid, while the number of people filing for unemployment benefits rose.
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