The results of the initial jobless claims report for the week ending April 6:
- Previous reading was 385K
- The Labor Dept says the plunge in claims reflects the unwinding of seasonal swings
Separately, the US import price index was down 2.7% y/y compared to 2.0% expected. It’s a non-event with inflation hardly registering on the Fed’s radar at the moment.
Slight blip in USD/JPY higher following the data and stock futures gained a couple points but the reaction has been minimal.