• Initial Claims were a tad higher than expected at 185K versus 171K forecasted. 
• The DXY continues to strength as markets react post-ECB policy announcement.  

There were 185,000 initial jobless claims in the US on the week ending on 9 April, the latest report from the US Depart of Labour showed on Thursday. That was a little above expectations for a rise to 171,000 from 167,000 one week prior. The four-week average number of initial jobless claims rose slightly to 172,250 from 170,2050 a week earlier. 

Continued Jobless Claims fell in the week ending 2 April to 1.475M from 1.523M a week earlier, larger than the expected drop to 1.5M. The Insured Unemployment Rate was unchanged at 1.1% that week as a result. 

Market Reaction

The DXY, already on the front foot amid a dovish reaction to the ECB policy announcement that led to the euro weakening against the US dollar, is extending gains to the upside and is eyeing a break back above 100 in wake of the latest US Retail Sales and jobless claims figures.