US Initial Jobless Claims dropped to 208K, below forecasts of 217K, bolstering the dollar amid resilient labor data.
The US Dollar Index (DXY) advanced 0.3% to near 100.80 after US Initial Jobless Claims fell to 208K, undershooting expectations of 217K. The data signaled continued strength in the labor market, supporting the greenback.
Prior to the release, forecasts had anticipated a slight increase from the previous week’s 217K. The unexpected decline reinforced expectations of a robust economic backdrop, reducing near-term rate-cut bets.
Commodities reacted inversely, with oil and gold prices retreating as the dollar strengthened.