"The move came as better-than-expected labour market data helped ease concerns over a rapid deterioration in employment conditions. Initial jobless claims fell to 231,000 in the second week of September, below consensus expectations of 240,000 and reversing the prior week's spike to 264,000. Continuing claims also declined to 1.92 million, their lowest since May, reinforcing signs that the jobs market, while cooling, remains resilient."
"The data could lift investors' confidence in the dollar. Bond markets also reacted to the jobless claims data. Yields rose across the curve, with the 10-year note holding above 4.1%, providing support to the greenback. The bond market could remain exposed to new inflation and jobs data. Looking ahead, attention turns to next week's Q2 GDP release, where consensus points to a solid 3.3% annualised expansion."
The US dollar advanced for a third consecutive session as labour market data showed resilience despite cooling. Initial jobless claims fell to 231,000 in the second week of September, below expectations and reversing a prior spike to 264,000. Continuing claims declined to 1.92 million, their lowest since May. Bond yields rose across the curve, with the 10-year Treasury holding above 4.1%, supporting the dollar. Bond markets remain sensitive to incoming inflation and employment reports. Focus shifts to next week's Q2 GDP release, where consensus forecasts a 3.3% annualised expansion that could further bolster the dollar.
Read at London Business News | Londonlovesbusiness.com
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