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Economic calendar: Central bankers in the limelight

Summary:

  • Philadelphia Fed Manufacturing Index to show a deterioration

  • Weekly initial claims data should show a minor upside

  • Central bankers may spur some additional volatility

Thursday is exceptionally calm in terms of the macroeconomic releases as we have only one some semi-important data from the US scheduled to be published in the early afternoon. However, central bankers may move the markets today as members of Fed and ECB may address recent developments on the FX front. Central bankers usually stay reluctant to provide any comments on the exchange rates yet investors may want to watch Fed’s Kashkari and Kaplan appearances as they will be followed by the Q&A sessions. Apart from that, Bank of England Chief Economist Andy Haldane will speak at conference organized by the domestic statistics offices at 5:00 pm BST.

1:30 pm BST - US, Labour Market Data and Philadelphia Fed Manufacturing Index. A weekly piece of data from the US labour market which is constantly tightening. When it comes to the initial jobless claims we have not seen a reading above 300k since March 2015 with the latest readings being in the close vicinity of 200k. This time economists surveyed by Bloomberg point for a reading of 215k what would be a minor uptick from last week’s 211k. On the other hand, the continuing claims print that will be released simultaneously should show a decrease from 1790k to 1780k. At the same Philly Fed Manufacturing Index for May will be released and it is expected to slide from 23.2 pts to 21 pts.

Central bank speakers scheduled for today:

11:30 am BST - ECB Vice President Constancio

1:00 pm BST - ECB Vice President Constancio

3:45 pm BST - Fed’s Kashkari

5:00 pm BST - BoE’s Haldane

6:00 pm BST - Fed’s Kaplan

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A recent steep downtrend has brought EURUSD to the new 2018 lows. Will USD bulls manage to bring the pair beneath the support zone? Source: xStation5

 

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