US: Weekly Initial Jobless Claims fall to 787K vs. 860K expected

• Initial Jobless Claims in the US fell by 53,000 last week.
• US Dollar Index clings to daily gains, below 93.00 mark.

There were 787,000 initial claims for unemployment benefits in the US during the week ending October 16th, the data published by the US Department of Labor (DOL) revealed this Thursday.

This reading followed last week's print of 842,000 (revised from 898,000) and came in better than the market expectation of 860,000.

Market reaction

The US Dollar Index held on to its daily gains, just below the 93.00 mark and had a rather muted reaction to the data as the focus remains on developments surrounding the US fiscal stimulus measures. This, along with the final presidential debate between President Trump and his Democratic rival Joe Biden, will be looked upon for some meaningful impetus.