The Department of Labor reported that initial claims for unemployment benefits they increased by 53,000 in the week ending October 10 to 898,000. The data generated a surprise since the market consensus was for a drop to 825,000.
Regarding the continued orders, fell by 1,165,000 in the week ended October 3 to 10,018,000, below the 10,700,000 average analyst estimates.
The report clarified that they can there are distortions due to data reprocessing in the state of California.
The dollar fell against the yen after the report but remained strong on most other crosses amid a climate of risk aversion.
Credits: Forex Street
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