U.S. initial jobless claims rises slightly, remain in line with sound labor markets

U.S. initial jobless claims rose slightly; however, they continue to be in line with sound labor markets. For the week ended 30 June, initial jobless claims rose to 231k, from an upwardly revised 228k. This was above consensus expectations of 225k. The four-week moving average rose to 225k, but remains in line with levels linked with a sound labor market, noted Barclays in a research report.

Claims have increased recently, after having lingered around the 220k mark from late-April to early-June. Whether this is linked to protectionist trade policies is too early to tell. The claims data would be closely monitored in the weeks ahead, stated Barclays. Meanwhile, continuing claims for the week ended 23 June rose to 1.739k from 1.707k. The insured jobless rate remained stable at 1.2 percent.

At 17:00 GMT the FxWirePro's Hourly Strength Index of US Dollar was bearish at -74.6636. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex