A pack of data from the US economy in the early afternoon
Governor Olsen is about to deliver annual speech
A vast array of central banks speakers due today
Looking at the Thursday’s calendar one can notice an avalanche of data from the US scheduled for the early afternoon. Firstly figures concerning PPI dynamics and labour market will be released. Later on, industrial production gauge is going to take the stage. Moreover, Bank of Norway Governor Olsen is due to deliver his annual speech today.
1:30 pm BST - US, PPI for January. A inflation figures concerning change in producers’ input prices. A reading watched by the central banks as part of the change in prices is passed onto consumers thus increasing inflationary pressure. The US PPI dynamics have been accelerating since late-2015 peaking November 2017 at 3.1% YoY. However, in December we have seen a significant slowdown to 2.6%. This time market consensus calls for a reading of 2.4% YoY and 0.4% MoM.
1:30 pm BST - US, Initial Jobless Claims. A weekly data from the US labour market. The US labour market is in great condition as almost all the published employment data is constantly improving. This time economists surveyed by Bloomberg point for a increase of 228k against last week’s 221k.
2:15 pm BST - US, Industrial Production for January. Measure concerning total output of the US manufacturers, quarries and utilities. The most recent readings have been quite mixed as no general tendency can be drawn. Market consensus calls for a increase of 0.2% MoM what would indicate a major slide against 0.9% seen last month.
Central banks speakers scheduled for today:
8:15 am BST - ECB’s Yves
10:45 am BST - ECB’s Praet
12:00 pm BST - ECB’s Lautenschlaeger
5:00 pm BST - Norway Central Bank Governor Olsen Annual Speech
6:30 pm BST - BoC’s Lawrence Schembri
10:30 pm BST - RBA Governor Lowe
Will today’s US data help EURUSD fulfill potential double-top pattern?