Danske Bank analysts suggest that the data calendar brings no tier 1 releases in today’s session and the primary market focus will remain on the unfolding earnings season amid US President Trump’s recent reminder that the truce in the US-China trade war may quickly be called off.
Key Quotes
“On paper, the most prominent events today are Fed’s Williams and Bostic speaking this evening and afternoon, respectively. However, given the recent communication from FOMC board members including Fed Chair Powell we doubt these speeches will have much market impact.”
“In the US, we get the weekly jobless claims figures that as always will receive attention given the importance of the labour market to the Fed. After a rebound in April, initial jobless claims have since been fluctuating around 220,000. After last week’s drop to 209,000, we expect a modest rebound to a level just below these 220,000. If right, this would suggest that the labour market – albeit a lagging indicator – remains healthy.”
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