US weekly Initial Jobless Claims decline to 198K vs. 212K expected

• Initial Jobless Claims in the US increased by 13,000 in the week ending October 14.
• US Dollar Index stays in negative territory below 106.50 after this data.

There were 198,000 initial jobless claims in the week ending October 14, the weekly data published by the US Department of Labor (DOL) showed on Thursday. This print followed the previous week's print of 211,000 (revised from 209,000) and came in better than the market expectation of 212,000.

Further details of the publication revealed that the advance seasonally adjusted insured unemployment rate was 1.2% and the 4-week moving average stood at 205,750, a decrease of 1,000 from the previous week's revised average.

"The advance number for seasonally adjusted insured unemployment during the week ending October 7 was 1,734,000, an increase of 29,000 from the previous week's revised level," the publication read.

Market reaction

The US Dollar Index stays under modest bearish pressure despite this upbeat data and was last seen losing 0.15% on the day at 106.40.