U.S. jobless claims continue to indicator towards solid labor markets

U.S. jobless claims continue to indicate towards strong labor markets. The initial jobless claims for the week ended 20 January rose modestly to 233k, coming slightly lower than Barclays expectations of 240k. Claims for the earlier week were downwardly revised by 4k, to 216k. The print released today takes the four-week moving average lower to 240k.

Meanwhile, continuing claims for the week ended 13 January also dropped to 1.937 million from an upwardly revised 1.965 million. The insured jobless rate remained unchanged at 1.4 percent. On balance, the claims data is seen in line with strong labor markets, noted Barclays.

State wise, claims rose significantly in Wisconsin, Michigan and Iowa. But this was partially countered by large declines in Georgia and Texas.

At 20:00 GMT FxWirePro's Hourly Strength Index of US Dollar was highly bearish at -187.169. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex

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