US: Initial Jobless Claims rose to 221K last week

•  Initial Jobless Claims matched consensus and increased to 221K.
• Continuing Jobless Claims climbed to 1.892M in the week ending October 25.

US citizens filing new applications for unemployment insurance rose to 221K for the week ending November 1, as reported by the US Department of Labor (DoL) on Thursday. This print matched initial estimates and was higher than the previous week's tally of 218K (revised from 216K).

The report also highlighted a seasonally adjusted insured unemployment rate of 1.2%, while the four-week moving average retreated to 227.25K, marking a decrease of 9.750K from the prior week’s revised average.

Moreover, Continuing Jobless Claims went up by 39K to reach 1.897M for the week ending October 25.

Market reaction

The greenback corrects lower and recedes to the 104.50 region when tracked by the US Dollar Index (DXY) amidst the broad-based recovery in the risk-linked universe.