US initial jobless claims 240K vs 230K expected

• Prior was 227K (revised to 226K)
• Continuing claims 1919K vs 1894K expected
• Prior 1903K (revised to 1893K)

Nothing worrying here as the data continues to show a steady labour market. The continuing claims data pertains to the NFP survey week and it just made a new cycle high. That could translate into an uptick in the unemployment rate. Note that the data could get revised the next week though.

This article was written by Giuseppe Dellamotta at www.forexlive.com.