U.S. jobless claims data point to stability in labor markets

Jobless claims in the U.S. stay stable. In the week ended 11 August, the initial jobless claims dropped 2k to 212k, while the four-week moving average rose 1k higher to 215k. Continuing claims for the week ended 4 August dropped 39k, reversing the earlier week’s 34k rise, leaving continuing claims at 1.721 million, about unchanged from the mid-July level, noted Barclays in a research report.

The four-week moving average in continuing claims also fell on the week, to 1.739 million from 1.747 million. In all, the initial and continuing claims data indicate towards stability in labor markets at a sound level of labor market conditions. The separation side of the labor market continues to be weak and initial claims continue to be close to recovery-level lows.

At 18:00 GMT the FxWirePro's Hourly Strength Index of US Dollar was bullish at 94.5448. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex