21 Jan 2016
US: Keep your eyes on initial jobless claims and Philly Fed survey – Nomura
FXStreet (Delhi) – Research Team at Nomura, suggests that in today’s session investors will be focusing on the release of US initial jobless claims number and Philly Fed survey.
Key Quotes
“Initial jobless claims: Choppy claims data are common around the holiday season, so some of the possible volatility over the next couple weeks should be taken with caution. Consensus expects 278k claims in the week ending 16 January.
Philly Fed Survey: The Philly Fed manufacturing survey returned to contraction territory in December, a sign that the manufacturing sector is not yet out of the woods. Moreover, respondents to the survey grew more pessimistic about the outlook, suggesting that the slowdown in manufacturing will probably be prolonged. Given that headwinds such as the strong dollar, global growth concerns, and low oil prices continue to linger, we expect the Philly Fed index to remain low at -6.0 in January (Consensus: -5.9).”
Key Quotes
“Initial jobless claims: Choppy claims data are common around the holiday season, so some of the possible volatility over the next couple weeks should be taken with caution. Consensus expects 278k claims in the week ending 16 January.
Philly Fed Survey: The Philly Fed manufacturing survey returned to contraction territory in December, a sign that the manufacturing sector is not yet out of the woods. Moreover, respondents to the survey grew more pessimistic about the outlook, suggesting that the slowdown in manufacturing will probably be prolonged. Given that headwinds such as the strong dollar, global growth concerns, and low oil prices continue to linger, we expect the Philly Fed index to remain low at -6.0 in January (Consensus: -5.9).”