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U.S. initial jobless claims fall more-than-expected

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Forex Pros - The number of people who filed for unemployment assistance in the U.S. last week fell more-than-expected, official data showed on Thursday.

In a report, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending March 12 fell to a seasonally adjusted 385K, down from 401K in the preceding week, whose figure was revised up from 397K.

Analysts had expected initial jobless claims to fall to 387K.

The report showed that continuing jobless claims in the week ended March 5 fell more-than-expected, dropping to 3.706 million, compared to 3.786 million in the preceding week, whose figure was revised up from 3.771 million.

Analysts had expected continuing jobless claims to fall to 3.750 million.

Following the release of the data, the U.S. dollar was down against the euro, with EUR/USD jumping 0.83% to hit 1.4016.

Meanwhile, the outlook for U.S. equity markets was upbeat: Dow Jones Industrial Average futures pointed to a gain of 0.85%, S&P 500 futures indicated a rise of 1.15%, while the Nasdaq 100 futures added 0.95%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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