US: Weekly Initial Jobless Claims rise to 412K vs. 359K expected

• Weekly Initial Jobless Claims in the US rose by 37,000.
• US Dollar Index clings to daily gains around 91.70.

There were 412,000 initial claims for unemployment benefits in the US during the week ending June 12, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading came in weaker than the market expectation of 359,000 and followed the previous print of 375,000.

Market reaction

The US Dollar Index (DXY) edged slightly lower after this report but continues to float in the positive territory. As of writing, the DXY was up 0.35% on the day at 91.70.

Additional takeaways

"The 4-week moving average was 395,000, a decrease of 8,000 from the previous week's revised average."

"The advance seasonally adjusted insured unemployment rate was 2.5% for the week ending June 5, unchanged from the previous week's unrevised rate."

"The advance number for seasonally adjusted insured unemployment during the week ending June 5 was 3,518,000, an increase of 1,000 from the previous week's revised level."