The number of Americans filling for unemployment benefits was 0.751 million in the week ended October 31st, compared to 0.758 million in the previous week. Today’s reading came in above market expectations of 0.732 million. It is the third consecutive week with claims below 800k, however today’s reading still remains far above 665,000 filed at the peak of the Great Recession in March 2009.
Continuing claims reading, which lags initial jobless claims data by one week, reach 7.285 million, while analysts expected a drop to 7.2 million. Today’s reading still remain much above 1.7 million average reported before the pandemic.
EURUSD saw relatively small reaction to today’s data releases. The most popular currency pair continued to trade around 1.1840 level. Source: xStation5
