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Breaking: US Initial Jobless Claims Exceed Estimates, Continuing Claims Rise

US Initial Jobless Claims Exceed Estimates, Continuing Claims Rise

In the latest report from the US Department of Labor, initial jobless claims rose unexpectedly by 238,000 for the week ending June 15. This figure surpassed the anticipated 235,000 claims and slightly edged lower than the revised previous week's gain of 243,000 (revised from 242,000).


Continuing jobless claims also increased by 15,000 to reach 1.828 million for the week ended June 8. The advance seasonally adjusted insured unemployment rate stood at 1.2%, while the 4-week moving average rose to 232,750, up by 5,500 from the previous week's unrevised average.


Market reaction to the data saw the US Dollar Index (DXY) trading with modest gains around the 105.40 mark. This movement marks a partial rebound from recent sessions where the index faced a multi-session decline following the release of the weekly jobless claims report.

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