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 5,000 to 245,000 in the week ending April 15, the most in a month and above market expectations of 240,000. The result was in line with a batch of data for March that indicated some softening in the US labor market, breaking the long string of data pointing to a tight labor market despite aggressive interest rate increases by the Federal Reserve. The four-week moving average, which removes weekly volatility, fell by 500 to 239,750. On an unadjusted seasonally basis, claims were down by 7,021 from the previous week to 228,216.

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

The expected result for today's statement is 247 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