It took a while, but the market has sorted through the US economic data and it is weaker than expected . Claims look to have rebounded on the multiple big snow storms on the eat coast in recent weeks…Usually, weather just pushes claims down one week and up the next, so best to use the 4-week moving average in this instance. It rose to 429,000 from 413,000.
Durables were weak at the headline level put positive when looking at capital goods.
EUR/USD is working back toward session highs, now at 1.3745.
Crossing the wires are comments from the ECB’s Gonzalez-Paramao who says that we must be very attentive to inflation risks…
