US: 1.42 million Americans applied for unemployment benefits last week

There were 1,427,000 Initial Claims for unemployment benefits in the US during the week ending June 27th, the data published by the US Department of Labor (DOL) revealed on Thursday.

This reading came in slightly worse than the market expectation of 1,355,000.

Market reaction

The US Dollar Index, which came under renewed bearish pressure on upbeat Nonfarm Payrolls data, was last seen losing 0.3% on the day at 96.86.

Additional takeaways

"The 4-week moving average was 1,503,750, a decrease of 117,500 from the previous week's revised average."

"The advance seasonally adjusted insured unemployment rate was 13.2% for the week ending June 20, unchanged from the previous week's revised rate."

"The advance number for seasonally adjusted insured unemployment during the week ending June 20 was 19,290,000, an increase of 59,000 from the previous week's revised level."