U.S. initial jobless claims stay at low levels, labor market conditions remain solid

U.S initial jobless claims continue to stay at low levels. For the week ended 2 June, jobless claims remained largely unchanged at 222k, as compared with the upwardly revised 223k for the prior week. This outturn was widely consistent with the consensus expectations of 220k. This takes the four-week moving average slightly higher to 226k, but still very close to historical lows. This implies low rates of job separations in the labor market.

Meanwhile, continuing claims for the week ended 26 May rose to 1.741 million from 1.720 million and the insured jobless rate remained stable at 1.2 percent. Overall, today’s report gave no new information and is in line with the view that labor market conditions continue to stay solid, stated Barclays in a research report.

At 16:00 GMT he FxWirePro's Hourly Strength Index of US Dollar was neutral at 3.7838. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest