Today’s macroeconomic calendar is relatively light. The key release will be the December US trade balance. In the context of Trump’s declared goal of reducing the deficit, these data are important both in terms of the trend and the impact of the imposed tariffs. The consensus expects a deficit of -55.5 billion USD compared to -56.8 billion USD in November.
We will also receive the weekly jobless claims data. Readings have remained stable in the 210–240k range, indicating a relatively balanced labor market. This time, expectations stand at 225k versus 227k a week earlier.
Thursday, 19 February
- 01:30 PM GMT – Initial jobless claims
- 01:30 PM GMT – US trade balance for December
- 03:30 PM GMT – EIA data on US natural gas inventories
- 05:00 PM GMT – DoE data on US crude oil inventories
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Daily Summary: NATGAS and OIL are holding up amid the turmoil surrounding Iran and contract rollovers ๐ก