US: Initial Jobless Claims rose more than estimated last week

• Initial Jobless Claims rose by 238K vs. the previous week.
• Continuing Jobless Claims increased by more than 1.80M.

US citizens that applied for unemployment insurance benefits increased by 238K in the week ending June 15 according to the US Department of Labor (DoL) on Thursday. The prints surpassed initial estimates (235K) and came a tad lower than the previous weekly gain of 243K (revised from 242K).

In addition, Continuing Claims increased by 15K to 1.828M in the week ended June 8.

Market reaction

The US Dollar Index (DXY) trades with decent gains near the 105.40 region, partially reversing the recent multi-session pullback in the wake of the release of weekly claims.