BREAKING: US jobless claims lower than expected

US jobless claims came in 216k vs 230k exp. and 227k previously, revised to 242k

• Continued jobless claims came in 1.862M vs 1.88M exp. and 1.867M previously, revised to 1.888M

The U.S. Department of Labor reported a significant drop in initial jobless claims to 216K, well below the expected 230K and the upwardly revised previous figure of 242K, indicating resilience in the labor market. The continued claims also edged lower to 1.862M from the revised 1.888M, suggesting sustained job retention. This better-than-expected data points to a robust employment environment and could support consumer confidence and spending. Market participants will closely watch upcoming reports to gauge labor market momentum and its implications for Fed policy. EURUSD showed limited reaction to the release.

EURUSD showed 0.1% move upward after the US jobless claims and PCE data. Source: xStation