US weekly initial jobless claims 254K vs. 265K est.

Last week initially reported at 254K.

The continuing claims came in at 2149K vs 2130K est. They were 2117K last week (revised from 2124K).

The 4-week average fell to 259K from 264.75K in the prior week.

The US employment picture from this perspective remains positive and should keep the idea of some sort of tightening in 2016 alive.

With the PPI moving higher too, the reaction in the US dollar is a little positive - if you call 10 pips worthy. Nevertheless it took some of the wind out of the EURUSD and GBPUSD which was pushing more to the upside.