US: Weekly Initial Jobless Claims drop to 712K vs. 775K expected

• Weekly Initial Jobless Claims in the US fell by 75,000 last week.
• US Dollar Index stays deep in the negative territory below 91.00.

There were 712,000 initial claims for unemployment benefits in the US during the week ending November 28, the data published by the US Department of Labor (DOL) revealed on Thursday.

This reading followed last week's print of 787,000 (revised from 778,000) and came in better than the market expectation of 775,000.

Market reaction

The US Dollar Index showed no immediate reaction to this report and was last seen losing 0.45% on the day at 90.71.

Additional takeaways

"The 4-week moving average was 739,500, a decrease of 11,250 from the previous week's revised average."

"The advance seasonally adjusted insured unemployment rate was 3.8% for the week ending November 21."

"The advance number for seasonally adjusted insured unemployment during the week ending November 21 was 5,520,000, a decrease of 569,000 from the previous week's revised level."