U.S. initial jobless claims jump, remain consistent with 4-week moving average

The initial jobless claims in the United States, jumped during the week ended November 18, remaining consistent with the index’s 4-week moving average. Also, it remained well above the threshold mark of 3,00,000, that defines either a healthy or an ailing labor market.

The country’s unemployment benefits rose 18,000 to a seasonally adjusted 251,000 for the week ended Nov 18, data released by the Labor Department showed Wednesday; it remained in line with a Reuters poll of analysts, estimating the figures at 2,50,000.

Further, the 4-week moving average declined by 2,000 to 251,000 from last week’s revised average of 253,000 (lower by 500 from 253,500).

Also, the country’s continuing unemployment benefits as of the week ending November 12 rose by 60,000 to 2.043 million from the prior week’s upwardly revised level of 1.983 million (from 1.977 million). Analysts were looking for a lower figure of 2.03 million.

The data was released a day earlier following closure of markets on Thursday, on the occasion of Thanksgiving.

The US dollar index traded firmer 0.06 percent at 101.77, while at 5:00GMT, the FxWirePro's Hourly Dollar Strength Index remained neutral at 31.92 (lower than the +75 benchmark for bullish trend). For more details, visit http://www.fxwirepro.com/currencyindex

Meanwhile, the benchmark 10-year bond yields rose nearly 5 basis points to 2.35 percent, highest in 11 months.