US: The number of people filing for initial unemployment benefits fell to 198,000 last week

US Jobless Claims Fall Below Expectations

The US Department of Labor reported on Thursday that new unemployment claims dropped to 198,000 for the week ending January 10. This figure not only fell short of the anticipated 215,000 but was also lower than the revised total of 207,000 from the previous week.

Furthermore, the four-week average of jobless claims declined by 6,500, reaching 205,000 compared to the prior week's revised average of 211,500.

Impact on Financial Markets

Following the release of these labor market figures, the US Dollar strengthened, with the Dollar Index (DXY) holding well above the 99.00 level. This uptick was supported by a broad increase in US Treasury yields.