Unemployment Claims unexpectedly increased last week
In the week ending May 23, Unemployment Claims were at 282,000, an increase of 7,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 274,000 to 275,000. Analysts were predicting decrease to 271,000. The 4-week moving average was 271,500, an increase of 5,000 from the previous week's revised average. The previous week's average was revised up by 250 from 266,250 to 266,500.
The advance seasonally adjusted insured unemployment rate was 1.7% for the week ending May 16, an increase of 0.1 percentage point from the previous week's unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending May 16 was 2,222,000, an increase of 11,000 from the previous week's unrevised level of 2,211,000. The 4-week moving average was 2,221,250, a decrease of 8,500 from the previous week's unrevised average of 2,229,750. This is the lowest level for this average since November 25, 2000 when it was 2,211,250.
Data did not have any major impact on the markets. Euro is currently being traded slightly below 1.09 handle, Sterling is around 1.53 area, while Aussie is few points above 0.7630 level. Later today, Pending Home Sales figures are scheduled for a release.
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