Economic calendar: Jobless claims data and central banks

• US jobless claims expected to surge

• BoE and CNB to announce rate decisions

• Powell to speak at 11:05 am GMT

The most awaited datapiece of the week will be released today - US jobless claims. Estimates hint that we may see a few millions of these. Apart from that, the Bank of England and Czech National Bank will announce rate decisions today. The former is expected to stay on hold but the latter should cut rates. Last but not least, Fed Chairman Powell will make a rare TV interview today at 11:05 am GMT. 

12:00 pm GMT - Czech National Bank rate decision. Expected: 1.25%. Previous: 1.75%

12:00 pm GMT - Bank of England rate decision. UK central bank cut interest rates to a record low of 0.1% and launched the QE programme earlier this month. Having said that, there is a chance that the Bank will stay on hold today and focus on the assessment of the situation. This will be the first “regular” meeting of a new BoE Governor, Andrew Bailey

12:30 pm GMT - US, GDP for Q4 (final). Expected: 2.1% QoQ

12:30 pm GMT - US, initial jobless claims. Jobless claims data has been largely overlooked by markets since the last economic turmoil. However, as another crisis gets underway, this data may be an important indicator of damage. No one knows what to expect from today’s release but some hint it could be as high as 4 million! To put this figure into context, claims peaked at 650-700k during the financial crisis.

Central bankers speeches

• 11:05 am GMT - Fed Chairman Powell