US: Initial Jobless Claims dropped a tad to 224K last week

• Initial Jobless Claims eased below consensus to 224K.
• Continuing Jobless Claims decreased to 1.856M.

US citizens filing new applications for unemployment insurance ticked lower to 224K for the week ending March 22, as reported by the US Department of Labor (DOL) on Thursday. This print missed initial estimates and was slightly lower than the previous week's revised tally of 225K (revised from 223K).

The report also highlighted a seasonally adjusted insured unemployment rate of 1.2%, while the four-week moving average dropped by 4.750K to 224K from the prior week’s revised average.

Moreover, Continuing Jobless Claims went down by 25K to reach 1.856M for the week ending March 15.

Market reaction

The Greenback reverses Wednesday’s uptick and prompts the US Dollar Index (DXY) to trade in the low-104.00s along with the mixed performance in US yields across the curve.