Jobless claims are due once again this morning. A dip of 7,000 to 523,000 is the consensus forecast while continuing claims are expected to decline to 5.75 mln from 5.797 mln. The debate continues as to whether people are falling off the rolls as their benefits expire or are they finding work….
US labor costs are expected to fall 4.0% in Q3 from 5.9% in Q2. That is an example of the slack the Fed highlighted in their statement yesterday.
The ECB press conference begins shortly after the data. It can be viewed live here.
