- Futures indices indicate higher market openings in the EU.
- GDP data and jobless claims in focus.
Today's indices are opening slightly higher. However, this can be attributed to a significant correction in yesterday's markets after the lack of agreement on the US debt limit. The debt limit issue was also discussed in the Fed's minutes. The Fed saw a lot of uncertainty regarding further rate hikes during the May meeting and indicated that the potential risk of US bankruptcy could significantly tighten credit conditions, making further rate hikes less necessary.
Today's macro calendar is relatively light, with investors mainly focusing on US Q1 GDP data and jobless claims. A slight increase in jobless claims to 245k for the latest week is expected, compared to 242k previously.
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01:30 PM BST, USA - GDP data
- Annualized data for Q1: Expected 1.1% versus 2.6% previously
- GDP deflator: Expected 4.0% Q/Q versus 3.9% previously
01:30 PM BST, USA - jobless claims
- Expected 245k versus previous 242k
10:00 AM BST, ECB - de Guindos
11:30 AM BST, Germany - Bundesbank President, Nagel
02:50 PM BST, USA - FOMC member Barkin
04:30 OM BST, USA - FOMC member Collins
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