US: Weekly Initial Jobless Claims rise to 898K vs. 825K expected

• Initial Jobless Claims in the US increased by 53,000 last week.
• US Dollar Index clings to daily gains above 93.70 after the data.

There were 898,000 initial claims for unemployment benefits in the US during the week ending October 10th, the data published by the US Department of Labor (DOL) revealed on Thursday.

This reading followed last week's print of 845,000 (revised from 840,000) and came in worse than the market expectation of 825,000.

Market reaction

The US Dollar Index showed no immediate reaction to this data and was last seen gaining 0.4% on a daily basis at 93.76.

Additional takeaways

"The 4-week moving average was 866,250, an increase of 8,000 from the previous week's revised average."

"The advance seasonally adjusted insured unemployment rate was 6.8% for the week ending October 3, a decrease of 0.9 percentage point from the previous week's revised rate."

"The advance number for seasonally adjusted insured unemployment during the week ending October 3 was 10,018,000, a decrease of 1,165,000 from the previous week's revised level."