In the European session, we don’t have much on the agenda other than a couple of low tier releases like the French current account and the Italian industrial production. None of these data will change anything for the ECB.
In the American session, we have the US Jobless Claims and a few Fed speakers. Initial Claims are expected at 235K vs 233K prior, while Continuing Claims are seen at 1974K vs 1964K prior. The labour market has been resilient and continues to show that there’s
low risk of losing a job but it’s also harder to get one.
The NFP report last Thursday put the labour market fears and more dovish bets to rest for the time being as we head into the US CPI next week. That’s probably going to be the most important release of the month. Today, unless we get big deviations, I don’t expect Jobless Claims to change anything for the Fed or the market.
Central bank speakers:
- 07:00 GMT/03:00 ET – ECB’s Cipollone (dove – voter)
- 14:00 GMT/10:00 ET – Fed’s Musalem (neutral – voter)
- 17:15 GMT/13:15 ET – Fed’s Waller (dove – voter)
- 17:30 GMT/13:30 ET – BoE’s Breeden (neutral – voter)
- 18:30 GMT/14:30 ET – Fed’s Daly (neutral – non voter)
This article was written by Giuseppe Dellamotta at www.forexlive.com.
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