The US initial claims data will be released at 8;30 AM et with the expectations for 290K vs 298K last week. Continuing Claims are expected to inch up a bit to 2360 from 2353 in the last report.
The claims have been consolidating between 280 and 314 since June, with most of the data below the 300k level. The 4 week MA is 290.75K. The data is an indication that the employment picture in the US remains strong/steady.
Non Farm Payroll will be released tomorrow with the expectations for 240K. Last month the data surprised to the upside with a 321K increase..
Other data in the US include the revisions to the Philadelphia Business outlook survey (at 10 AM). Later today at 3 PM Consumer Confidence will be released. Fed’s Kocherlakota speaks later tonight at 8:00 PM ET
Trends in US Initial Claims..
