Initial jobless claims fell below 300K for the first time since 2007.
initial jobless claims
This number is a solid excuse for some long-overdue dollar strength but so far the market is selling the dollars almost immediately. Part of the reason why is that the Labor Debt said computer upgrades in two states triggered the drop. Two states had computer conversions that resulted in administrative issues and prevented processing unemployment claims over the Labor Day holiday week and they did not estimate these unprocessed claims.
Still the total apathy for any kind of follow-through for the dollar bulls, especially in pairs like GBP/USD is a concern.
