Investing.com - The number of people who filed for unemployment assistance in the U.S. last week fell less than expected, but remained in territory consistent with a strengthening labor market, official data showed on Thursday.
The number of individuals filing for initial jobless benefits in the week ending July 8 decreased by 3,000 to a seasonally adjusted 247,000 from the previous week’s revised total of 250,000, the U.S. Department of Labor said.
Analysts expected jobless claims to fall by 5,000 to 245,000 last week.
The four-week moving average was 245,750, up 2,250 from the previous week. The monthly average is seen as a more accurate gauge of labor trends because it reduces volatility in the week-to-week data.
Continuing jobless claims in the week ended July 1 inched down to 1.945 million from 1.965 million in the preceding week. Analysts had expected continuing claims to dip to 1.950 million.
USD/JPY was at 113.20 from around 113.21 ahead of the release of the data, EUR/USD was trading at 1.1415 from around 1.1417 earlier, while GBP/USD was at 1.2945 from 1.2942.
The US dollar index, which tracks the greenback against a basket of six major rivals, was at 95.49, compared to 95.48 ahead of the report.
Meanwhile, U.S. stock futures pointed to a modestly higher open. The blue-chip Dow futures rose 12 points, or around 0.1%, the S&P 500 futures added 3 points, or about 0.1%, while the tech-heavy Nasdaq 100 futures tacked on 13 points, or roughly 0.2%.
Elsewhere, in the commodities market, gold futures traded at $1,220.52 a troy ounce, compared to $1,219.87 ahead of the data, while crude oil traded at $45.45 a barrel from $45.44 earlier.