Unemployment Claims

The Unemployment Claims Rate determines the amount of individuals who claimed unemployment insurance for the first time during the past week. This weekly indicator provides very temporary data, but traders see Unemployment as a lagging indicator that gives little indication of the future performance of the economy. The downward trend has a positive effect on the country's currency, as working people tend to spend more money, and consumption makes up a large portion of GDP
The number of Americans filing for unemployment benefits rose by 11,000 to 239,000 in the week ending April 8, beating market expectations of 232,000. It was the first increase in jobless claims in three weeks, in line with a batch of data for March that indicated a softening US labor market to reinforce existing bets that the Federal Reserve could cut interest rates several times this year. The four-week moving average, which removes weekly volatility, rose by 2,250 to 240,000. On an unadjusted season basis, initial claims increased by 27,457 to 234,577, with significant increases in California (+11,388), amid a wave of tech layoffs, and New Jersey (+3,228).

Outlook for today's statement and how it will affect the currency

The expected result for today's statement is 240 thousand
In the event that the current statement issued a result higher than expected, it will positively affect the currency, and vice versa

The timing of the statement

The report will be issued at 3:30 pm Mecca Al-Mukarramah time