After the “big gun” events that we had on Wednesday (FOMC, inflation, oil inventories) Thursday has a notably lighter calendar. The focus will be on the weekly claims data in light of a recent surprisingly good NFP report. Will today’s report confirm a quick deceleration of claims amid reopening? Will continuing claims start level off significantly? If not, markets could worry that the latest NFP showed a picture that was rosier than the reality.
- 9:00 am BST – industrial output in Italy for April (consensus -24% m/m)
- 1:30 pm BST – US claims report: initial claims (consensus 1.55 mln), continuing claims (consensus 20 mln)
- 1:30 pm BST – US PPI report for May (consensus -1.2% y/y)
- 5 pm BST – WASDE report on grains
- Corpus Christi Day – holiday in Poland, Portugal, Brazil and several regions in Germany
Has the lobour market really improved? This is the question for today – US2000 (down 3.3% so far today) will be watching. Source: xStation5
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