US Jobless Claims Surge, Dollar Trading Flat

Data released by the US Labor Department on Thursday showed that there were 419k initial claims for unemployment benefits in the US during the week ending July 17.

The previous month’s reading was 368k and market expectations were optimistic at 350k.

The advance figure for the seasonally adjusted unemployment rate was 2.4% for the week ending July 10, unchanged from the previous week’s unadjusted rate.

The advance figure for seasonally adjusted unemployment for the week ending July 10 was 3,236,000, down 29,000 from the previous week’s revised level.

The US dollar was trading flat today at 92.77, not affected much by this report.