- Stock indices rise after yesterday’s Fed decision; US100 accelerates gains after rollover
- Bank of England decision at the center of attention during the European session
- Dollar weakens slightly ahead of U.S. labor market data
- Focus today on jobless claims and the Philly Fed index (both at 12:30 PM GMT)
- FedEx (FDX.US) earnings after the U.S. session
Markets are quite optimistic, betting on much lower than previous one US jobless claims report. However, higher than expected reading may stress the market in the short-term, signalling slowdown economy and possible stagflation scenario. Given that fact, we expect that US jobless claims data will be the most important macro today.
Macro Calendar
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11 AM GMT – Bank of England decision: expected 4% vs. 4% previously
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12:30 PM GMT – Philadelphia Fed Index (Philly Fed): expected 1.7 vs. -0.3 previously
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12:30 PM GMT – U.S. Jobless Claims: expected 240k vs. 263k previously
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2 PM GMT – U.S. Leading Economic Index (LEI): expected -0.2% vs. -0.1% previously
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2:30 PM GMT – U.S. Natural Gas Inventories (EIA): 81 bcf vs. 71 bcf previously
Central Bank Speeches
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9:45 AM GMT – ECB, Schnabel
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11 AM GMT – ECB, Escriva
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2:50 PM GMT – IMF, Georgieva
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