BREAKING: Jobless claims above 6000k once again!

The US jobless claims report was released at 1:30 pm BST. The reading once again showed a bigger than expected value. Initial jobless claims came in at 6606k against expected 5500k. Continuing claims came in at 7455k (exp. 8236k). However, US stocks once again reacted strangely as US500 surged over 1%. USD weakened on the release. Canadian jobs report for March was released at the same time. It showed a 1010.7k decline in employment (exp. -500k).

S&P 500 (US500) once again experienced a strange reaction to jobless claims data as it surged in spite of the release being clearly negative. Source: xStation5

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Morning wrap
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