Initial Jobless Claims comes in at 203K against 213K consensus

Initial Jobless Claims in the United States registered 203K, according to data released today. This figure came in below the market consensus of 213K, representing a -1.0% surprise. The previous week’s reading was also 203K. A lower number of claims generally indicates a stronger labor market.

Following the release, the US Dollar showed a broad weakening against major currencies. AUDUSD rose 10 pips after 15 minutes, while EURUSD also gained 10 pips. GBPUSD advanced 18 pips, and NZDUSD increased 9.3 pips. Conversely, USDCAD fell 6.0 pips, USDCHF dropped 9.8 pips, and USDJPY declined 20 pips. Gold, XAUUSD, saw a significant rise of 225 pips. For EURUSD, the 10 pip move after 15 minutes is equal to its median 1-hour move of 10 pips observed after past releases. The 20 pip decline in USDJPY after 15 minutes is double its median 1-hour move of 10 pips, nearing its top-quarter move of 21+ pips. XAUUSD’s 225 pip gain is substantially above its median 1-hour move of 29 pips and well into its top-quarter moves of 65+ pips.