• Weekly Initial Claims came in a little higher than expected, but Continued Claims were lower than expected. 
• The DXY has been weakening in recent trade following bad Philly Fed manufacturing data. 

There were 218,000 Initial Jobless Claims in the week ending on 14 May, a tad above the expected rise to 200,000 from 197,000 one week ago, data released by the US Department of Labour on Thursday showed. That meant the four-week average number of claims rose to 199,500 from 191,250 a week earlier. 

Continued Claims fell to 1.317M in the week ending on 7 May, a tad below the expected decline to 1.32M from 1.342M a week earlier. That meant the insured unemployment rate fell to 0.9% from 1.0% a week earlier. 

Market Reaction

The DXY has been seeing some weakness in recent trade, though more due to the downbeat Philly Fed manufacturing report that the weekly jobless claims data if anything.