According to the latest report from the US Department of Labor (DoL), there were 268,000 initial claims for US unemployment benefits in the week ending on the 13^th of November. That was 8,000 more than expected, but down 2,000 from the week prior and, according to the DoL, "is the lowest level for initial claims since March 14, 2020 when it was 256,000". Last week's initial jobless claims number was revised higher to 269,000 from 267,000. 

Continuing Jobless Claims unexpectedly fell to 2.08M from 2.209M in the week ending on 6 November, versus expectations for a fall to 2.12M. The four-week average initial jobless claims number fell to 272,500 from 278,000 the week prior. The insured unemployment rate fell to 1.5% as of the week ending on 6 November.  

Market Reaction

The latest batch of US data has not had any discernible impact on FX markets and the DXY continues to trade within recent intra-day ranges in the 95.65-95.80 area.