EUR/USD: US Unemployment Claims

The Euro traded sideways against the US Dollar, following the US Unemployment Claims release on Thursday at 12:30 GMT. The EUR/USD exchange currency rate lost 4 pips or 0.03% after the release. The Euro continued trading at the 1.0790 level against the Greenback after the release.

The Department of Labor released the US Unemployment Claims data, which came out worse-than-expected of 2981K compared with the forecast of 2500K.

According to the official release: "The advance number of actual initial claims under state programs, unadjusted, totaled 2,614,093 in the week ending May 9, a decrease of 241,467 (or -8.5 percent) from the previous week. The seasonal factors had expected a decrease of 69,880 (or -2.4 percent) from the previous week. There were 188,264 initial claims in the comparable week in 2019. In addition, for the week ending May 9, 29 states reported 841,995 initial claims for Pandemic Unemployment Assistance (PUA)."