US initial jobless claims fell to 199K, reinforcing labor market strength ahead of Friday’s Nonfarm Payrolls report.
The British Pound steadied near 1.3460 against the US Dollar after US initial jobless claims dropped to 199K, below estimates of 202K and marking a two-year low. The data suggests continued labor market resilience, supporting the Federal Reserve’s focus on inflation control.
Prior job cuts data showed planned layoffs fell 27% to 33.429K in July, the lowest since July 2024. Markets now await Nonfarm Payrolls, expected at 80K, nearly double June’s print, with unemployment projected to hold at 4.2%.
Geopolitical tensions, including Iran-Oman negotiations over the Strait of Hormuz, may influence risk sentiment alongside economic data.