US: Weekly Initial Jobless Claims fall to 709K vs. 735K expected

• Weekly Initial Jobless Claims in the US declined by 48,000 last week.
• US Dollar Index stays below 93.00 in early American session.

There were 709,000 initial claims for unemployment benefits in the US during the week ending November 7th, the data published by the US Department of Labor (DOL) revealed on Thursday.

This reading followed last week's print of 757,000 (revised from 751,000) and came in better than the market expectation of 735,000.

Market reaction

The US Dollar Index stays little changed below 93.00 after the data.

Additional takeaways

"The 4-week moving average was 755,250, a decrease of 33,250 from the previous week's revised average."

"The advance seasonally adjusted insured unemployment rate was 4.6% for the week ending October 31, a decrease of 0.3 percentage point from the previous week's revised rate." 

"The advance number for seasonally adjusted insured unemployment during the week ending October 31 was 6,786,000, a decrease of 436,000 from the previous week's revised level."