US: Weekly Initial Jobless Claims rise to 227K as expected

• Initial Jobless Claims advanced by 6,000 in the week ending July 29.
• Continuing Jobless Claims rise by 21,000 in the week ending July 22. 
• US Dollar Index remains around four-week highs near 102.70. 

Initial Jobless claims totaled 227,000 in the week ending July 29, the weekly data published by the US Department of Labor (DOL) showed on Thursday. The print follows the previous week's 221,000 (unrevised) and came in line with market expectations. Further details showed that “the 4-week moving average  was 228,250, a decrease of 5,500 from the previous week's unrevised average of 233,750.”

Continuing Claims increase by 21,000 in the week ended July 22 to 1.7 million, a reading that matched market estimates.  The four-week moving average “was 1,712,250, a decrease of 4,500 from the previous week's revised average.”

Market reaction: 

Along with the Jobless Claims, Q2 Unit Labor Costs were released. The US Dollar Index remained near four-week highs after the reports trading around 102.70.