US initial jobless claims dropped to 1.3m, continuing claims at 18.3m

<p>US initial jobless claims dropped -10k to 1300k in the week ending July 11, slightly above expectation of 1250k. Four-week moving average of initial claims dropped -60k to 1375k. Continuing claims dropped -422k to 17338k. Four-week moving average of continuing claims dropped -738k to 18272k. Full release here.</p>
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