9:55 AM · 30 November 2023

Economic calendar: US jobless claims and PCE inflation in markets spotlight

  • European indices open today session with modest gains
  • Stronger retail sales data from Germany, weaker readings from France
  • Eurozone inflation and PCE and U.S. benefit claims in focus of markets
  • OPEC&JMMC summit scheduled to begin at 1 PM GMT 

Today's unexpected strengthening of the U.S. dollar may indicate that today macro readings from the Eurozone and the U.S. could bring heightened volatility on stock market and currency market as well. The focus of attention after the flash inflation report for November in the Eurozone, published at 10 AMG MT, will be readings from the US labor market where investors will learn of fresh jobless claims numbers The market expects a slight increase from 209k to 218k, which would potentially confirm that the labor market, while remaining healthy, is beginning to stabilize and cool somewhat. A reading above 218k could raise expectations of a potentially more dovish tone for Jerome Powell's speech tomorrow (Friday 4 PM GMT). PCE inflation, which remains the main measure of price pressures watched by the Fed, will also be closely watched. The market expects a decline in both the headline and core readings. Higher volatility may also take place in the oil market, as the OPEC+-affiliated summit of oil producers begins today.

10 AM GMT- Eurozone, flash CPI inflation for November. Expectations: 2.7% y/y. Previous: 2.9% y/y

  • Core inflation. Expectations 3.9% Previously: 4,2%
  • Unemployment rate. Expectations: 6.5% Previously: 6,5%

1:30 PM GMT - US, jobless claims and PCE inflation readings.

  • Jobless claims. Expectations: 218 thousand Previously: 209 thousand.
  • PCE inflation y/y. Expectations: 3% Previously: 3,4%
  • Core PCE inflation y/y. Expectations: 3.5% Previously: 3,7%

2 PM GMT - Chicago Fed regional index. Expectations: 46 Previously: 44

3:30 PM GMT - Gas inventories according to the EIA. Expectations - 8 bcf Previously: - 7 bcf

Central bankers speeches

  • 9:30 AM GMT - ECB Panetta
  • 1:30 PM GMT- ECB Lagarde
  • 1:45 PM GMT - ECB Enria
  • 2:15 PM GMT - ECB McCaul
  • 2:05 PM GMT - Fed Williams
  • 03:45 PM GMT - ECB Jochnik
  • 4 PM GMT- BoE Greene
  • 5 PM GMT - ECB Nagel
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