US initial claims come in higher than expected
Americans filed first-time jobless claims at an accelerated week-on-week clip in the seven days ended 30 July.
According to the Labor Department, initial jobless claims rose by 6,000 to 260,000 last week, higher than market expectations for a print of 259,000.
On a non-seasonally adjusted basis, claims fell by 9,285 to 205,587 from last week's downwardly revised reading, with notable decreases in Massachusetts and Ohio, while claims rose significantly in Connecticut.
The four-week moving average, which aims to strip out week-to-week volatility, printed at 254,750 - an increase of 6,000 from the previous week's downwardly revised reading of 248,750.
Reporting by Iain Gilbert at Sharecast.com