US: Weekly Initial Jobless Claims decline to 400K vs. 380K expected

• Weekly Initial Jobless Claims in US declined by 24,000.
• US Dollar Index stays in the negative territory near 92.00.

There were 400,000 initial claims for unemployment benefits in the US during the week ending July 24, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed the previous print of 424,000 (revised from 419,000) and came in worse than the market expectation of 380,000.

Market reaction

The USD continues to have a difficult time outperforming its rivals in the early American session on Thursday. As of writing, the US Dollar Index was down 0.3% on a daily basis at 91.98.

Additional takeaways

"The 4-week moving average was 394,500, an increase of 8,000 from the previous week's revised average."

"The advance seasonally adjusted insured unemployment rate was 2.4% for the week ending July 17, unchanged from the previous week's unrevised rate."

"The advance number for seasonally adjusted insured unemployment during the week ending July 17 was 3,269,000, an increase of 7,000 from the previous week's revised level."