US: Initial Jobless Claims rose to 217K last week

•  Initial Jobless Claims bettered consensus and increased to 217K.
• Continuing Jobless Claims climbed to 1.873M in the week ending November 1.

US citizens filing new applications for unemployment insurance rose to 217K for the week ending November 8, as reported by the US Department of Labor (DoL) on Thursday. This print came in above initial estimates (223K) and was lower than the previous week's tally of 221K (unrevised).

The report also highlighted a seasonally adjusted insured unemployment rate of 1.2%, while the four-week moving average retreated to 221K, marking a decrease of 6.250K from the prior week’s unrevised average

Moreover, Continuing Jobless Claims went down by 11K to reach 1.873M for the week ending November 1.

Market reaction

The Greenback’s rally remains well in place, although the US Dollar Index (DXY) now corrects lower after hitting new yearly peaks past the 107.00 barrier earlier on Thursday.