US Initial Jobless Claims jump to 236K, Dollar weakens to eight-week low

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The number of Americans filing for new unemployment benefits increased to 236,000 in the week ending December 6, the US Department of Labor (DOL) reported on Thursday.

The number of Americans filing for new unemployment benefits increased to 236,000 in the week ending December 6, the US Department of Labor (DOL) reported on Thursday. The figure came in above the market expectation of 220,000 and was higher than the previous week’s level, which was revised up to 192,000 from 191,000.

The report also showed that the 4-week moving average inched higher to 216,750, compared with 214,750 in the week ending November 29.

In the same release, the DOL noted that seasonally adjusted Continuing Jobless Claims fell to 1.838 million for the week ending November 29, marking a drop of 99,000 from the previous week’s revised level. The prior week’s figure was revised down to 1.937 million from 1.939 million.

The insured unemployment rate declined to 1.2%, compared with 1.3% in the preceding week, while the 4-week moving average for Continuing Claims eased to 1.918 million, down from a revised 1.945 million.

Market reaction

The Greenback extends its slide following the data. The US Dollar Index (DXY), which tracks the Buck’s value against a basket of six major counterparts, is trading near 98.28, its lowest level since October 17.

US Dollar Price Today

The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Australian Dollar.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		-0.39%	-0.25%	-0.50%	-0.16%	0.15%	-0.19%	-0.64%
EUR	0.39%		0.14%	-0.11%	0.23%	0.55%	0.21%	-0.24%
GBP	0.25%	-0.14%		-0.25%	0.09%	0.41%	0.07%	-0.38%
JPY	0.50%	0.11%	0.25%		0.34%	0.66%	0.29%	-0.13%
CAD	0.16%	-0.23%	-0.09%	-0.34%		0.32%	-0.03%	-0.48%
AUD	-0.15%	-0.55%	-0.41%	-0.66%	-0.32%		-0.35%	-0.79%
NZD	0.19%	-0.21%	-0.07%	-0.29%	0.03%	0.35%		-0.45%
CHF	0.64%	0.24%	0.38%	0.13%	0.48%	0.79%	0.45%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).