The number of Americans filling for unemployment benefits was 0.745 million in the week ended February 27th, compared to 0.730 million reported in the previous week. Today’s reading came in below market expectations of 0.750 million. Claims are still far from 200 thousand level reported back in February due to slow labor market recovery.
Continuing claims reading, which lags initial jobless claims data by one week, decreased to 4.295 million, while analysts expected decrease to 4.30 million. Today’s reading still remain much above 1.7 million average reported before the pandemic.
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EURUSD saw relatively small reaction to today’s data releases. The most popular currency pair continued to trade around 1.2040 level. Source: xStation5
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