US: Initial Jobless Claims dropped to 219K last week

• Initial Jobless Claims eased below consensus to 219K.
• Continuing Jobless Claims increased to 1.903M.

US citizens filing new applications for unemployment insurance ticked lower to 219K for the week ending March 29, as reported by the US Department of Labor (DOL) on Thursday. This print missed initial estimates and was lower than the previous week's revised tally of 225K (revised from 224K).

The report also highlighted a seasonally adjusted insured unemployment rate of 1.3%, while the four-week moving average dropped by 1.250K to 223K from the prior week’s revised average.

Moreover, Continuing Jobless Claims went up by 56K to reach 1.903M for the week ending March 22.

Market reaction

The Greenback remains well on the back foot on Thursday, trading at levels last seen in early October in the aftermath of President Trump’s “Liberation Day”.