US: Initial Jobless Claims fell to 220K last week

•  Initial Jobless Claims fell below consensus to 220K.
• Continuing Jobless Claims dropped to 1.870M.

US citizens filing new applications for unemployment insurance decreased to 220K for the week ending March 8, as reported by the US Department of Labor (DOL) on Thursday. This print missed initial estimates and was lower than the previous week's revised tally of 222K (revised from 221K).

The report also highlighted a seasonally adjusted insured unemployment rate of 1.2%, while the four-week moving average rose by 1.5K to 226K from the prior week’s revised average.

Moreover, Continuing Jobless Claims went down by 27K to reach 1.870M for the week ending March 1.

Market reaction

The Greenback manages to extend Wednesday’s bounce and prompts the US Dollar Index (DXY) to approach the key 104.00 barrier accompanied by further upside impulse in US yields across the board.