The number of Americans filling for unemployment benefits was 0.498 million in the week ended May 1st, compared to the 0.553 million rise reported in the previous week. Today’s reading came in below market expectations of 0.540 million. However claims are still far from the 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, increased to 3.690 million, while analysts expected decrease to 3.62 million. Today’s reading still remain much above the 1.7 million average reported before the pandemic.
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EURUSD saw a relatively small reaction to today’s data releases. The most popular currency pair continued to trade around the 1.2050 level. Source: xStation5
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