Today's macroeconomic calendar includes several significant events. Investors should primarily focus on the final Q1 GDP report for the USA, durable goods orders, and weekly jobless claims.
The most important release of the day will undoubtedly be the final Q1 2024 GDP report for the USA. Analyst expectations indicate a quarter-over-quarter economic growth of 1.4%. This is the third and final report, with previous publications showing growth of 1.6% and 1.3% Q/Q respectively. In the last quarter of 2023, the US economy grew by 3.4%; despite still positive growth, a slight slowdown in dynamics is noticeable.
In addition to GDP, it will also be worth monitoring jobless claims. Recent weeks' data show a slight increase from levels around 220k to levels of 240k. Expectations for today's report indicate 236k additional claims last week.
Detailed calendar for the day:
10:00 AM BST, United Kingdom - BoE Financial Stability Report
10:30 AM BST, United Kingdom - BoE FPC Meeting Minutes
10:30 AM BST, United Kingdom - BoE Gov Bailey Speaks
01:30 PM BST, United States - Inflation Data:
- Real Consumer Spending (Q1): forecast 2.0%; previous 3.3%;
- PCE Prices (Q1): forecast 3.3%; previous 1.8%;
- Core PCE Prices (Q1): forecast 3.60%; previous 2.00%;
01:30 PM BST, United States - Employment Data:
- Jobless Claims 4-Week Avg.: previous 232.75K;
- Continuing Jobless Claims: forecast 1,820K; previous 1,828K;
- Initial Jobless Claims: forecast 236K; previous 238K;
01:30 PM BST, United States - Durable Goods for May:
- Core Durable Goods Orders: forecast 0.2% MoM; previous 0.4% MoM;
- Durables Excluding Defense: previous 0.0% MoM;
- Durable Goods Orders: forecast -0.5% MoM; previous 0.7% MoM;
- Durables Excluding Transport: previous 0.4% MoM;
01:30 PM BST, United States - GDP data:
- GDP (Q1): forecast 1.3% QoQ; previous 3.4% QoQ;
- GDP Price Index (Q1): forecast 3.1% QoQ; previous 1.7% QoQ;
- GDP Sales (Q1): forecast 1.7%; previous 3.9%;
03:30 PM BST, United States - EIA Data:
- Natural Gas Storage: forecast 53B; previous 71B;
