US: Initial Jobless Claims increased more than expected last week

•  Initial Jobless Claims rose to 230K, up from the previous week's 228K.
• Continuing Jobless Claims increased to 1.850M in the week ending August 31.

US citizens that newly applied for unemployment insurance benefits reached 230K in the week ending September 7, according to the US Department of Labor (DoL) on Thursday. The prints came in above initial consensus (227K) and were a tad higher than the previous weekly figure of 228K (revised from 227K).

Further details of the publication revealed that the advance seasonally adjusted insured unemployment rate was 1.2% and the 4-week moving average was 230.75K, an increase of 0.500K from the previous week's revised average.

In addition, Continuing Claims increased by 5K to 1.850M in the week ending August 31.

Market reaction

The US Dollar Index (DXY) remains under downside pressure and hovers around the 101.60 region in the wake of the release.