Any news related to jobs data in the United States nowadays is a first tier news and markets have a tendency to react the most to this kind of news, hence volatility should rise.
Unemployment claims are released each Thursday and the data refers to the previous week. Being released on a weekly basis, it offers a glimpse into the NFP which comes on a monthly basis, and that being the case if you have four different weeks of bad data in terms of the unemployment claims than the expectations for the NFP should be in line with what the claims showed.
Unemployment claims show the number of people who filled for the unemployment insurance for the first time and, like mentioned earlier, it refers to the previous week. The people that fill for unemployment more than once, should be addressed with another indicator, the continuing claims, and this one is released in the same day and at the same time like the unemployment claims.
Looking at the past six releases it seems we’re having some sort of an equilibrium in terms of the number of people applying first time for benefits, so nothing out of ordinary there.
The things to take into consideration when looking at the Unemployment Claims indicator are:
- release date: weekly, five days after week ends, usually on Thursdays;
- release time: each Thursday, 12:30 GMT, during North American session;
- data < estimated = positive for the currency; data> estimated = negative for the currency.