- Prior week 237K
- Initial jobs claims 263K vs 235K estimate. Prior week revised marginally lower to 236K vs 237K prior
- Continuing claims 1.939M vs 1.951M estimate. Prior week 1.939M revised from 1.940M
- 4-week moving average of initial jobless claims 240.50K vs 230.75K
For the continuing claims:
4-week moving average of continuing claims: 1,945,750
Change from prior week: −750
Previous week’s revised average: 1,946,500 (revised down by 250 from 1,946,750)
The number is the highest since October 2021.
The initial jobs claims is the surprise. Did it have to do with the Labor Day holiday.
US stocks have given up some of their gains after the CPI/claims data. The S&P and NASDAQ indices are implying a gain of 6 point and 51 points respectively. Any again today would still be a record.
The US dollar has moved lower as yields have also moved lower. The 2-year yield is now down -4.5 basis point at 3.489%. The 10 year yield is down -2.5 basis points at 4.007%.
The EURUSD moved back above its 200-hour moving average at 1.1693, and tested the 100-hour moving average at 1.17211 where sellers leaned. The bias is more neutral between the two moving averages. ECB's Legarde press conference is ahead
