US initial jobless claims fall by 3,000

Americans filed unemployment claims at a decelerated pace on the week ended 4 November, broadly in line with market expectations.

Initial unemployment claims dropped by to 214,000 last week, according to the Labor Department, down from the previous week's upwardly revised print of 217,000.

Continuing claims, on the other hand, rose by 22,000 to 1.83m in the week ended 28 October, above market expectations for a reading of 1.82m and the highest level seen since April.

The four-week moving average, which aims to strip out week-to-week volatility, rose by 1,500 to 212,250, while non-seasonally adjusted claims rose by 13,826, with notable increases in California and New York.

Reporting by Iain Gilbert at Sharecast.com