U.S. initial jobless claims rise in beginning of March, but indicate towards low rates of job separation

Initial jobless claims in the U.S. continue to indicate towards low rates of job separation. In the week ended 3 March, jobless claims rose to 231k from 219k. This is slightly above consensus expectations of 220k. The four-week moving average, a less volatile measure for claims, came in at 223k, near a historical low. Thus, in spite of rise in claims, the data continues to indicate towards low rates of job separation and hint at strong labor market conditions, noted Barclays in a research report.

Meanwhile, continuing claims for the week ended 24 February 24 fell to 1.870 million. The insured unemployment rate fell by one-tenth to 1.3 percent.

At 16:00 GMT the FxWirePro's Hourly Strength Index of US Dollar was highly bullish at 154.577. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex

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