In the US tomorrow: Claims, PPI and Fed's Dudley
As the market moves toward the close and the new trading day, the biggest event may well be the RBNZ decision, statement and presser starting at 5 PM ET (2100 GMT). No change is expected (rate is at 1.75%) but the devil is in the details.
In the European session tomorrow, there is a lot of UK data:
- Manufacturing production is expecting to remain unchanged on the month (vs -0.2% last month)
- Industrial Production is expected to rise by 0.1% vs -0.1% last month
- Construction output is expected to rise 1.4% vs -1.2% last month
- The Goods trade balance is expected to come in at -11B vs -11.863B last month
Looking ahead to the US session:
- US unemployment claims are stock at 240K. That is the estimate for the release at 8:30 AM ET/1230 GMT
- US PPI is expected to rise 0.1% vs 0.1% last. They ex food and energy are expected to rise by 0.2% (vs +0.1% last). YoY for each are expected at 2.2% and 2.1% respectively.
- Fed's Dudley speaks at 10 AM ET. It will be a press briefing on regional wage inequality. Expect Q&A too
- The US federal budget will be released at 2 PM ET/1800 GMT.
