29 Apr 2016
U.S. day ahead is low key - Westpac
Analysts at Westpac noted that the US calendar is quite busy with second tier data.
Key Quotes:
"The Q1 Employment Cost Index is expected to have risen 0.6% q/q, as it did in Q4. Wages rose 2.1% over 2015, benefits 1.7%. The Fed’s preferred inflation measure, the core PCE deflator, is expected to have risen 0.1% m/m, 1.6% y/y in March.
In the FOMC statement this week, the Fed said inflation had “continued to run below the Committee’s 2 percent longer-run objective”, a revision from March when they said inflation had “picked up in recent months.” The April Chicago PMI is seen dipping to 52.6 but often surprises. Final Apr U Michigan consumer sentiment is also due."
Key Quotes:
"The Q1 Employment Cost Index is expected to have risen 0.6% q/q, as it did in Q4. Wages rose 2.1% over 2015, benefits 1.7%. The Fed’s preferred inflation measure, the core PCE deflator, is expected to have risen 0.1% m/m, 1.6% y/y in March.
In the FOMC statement this week, the Fed said inflation had “continued to run below the Committee’s 2 percent longer-run objective”, a revision from March when they said inflation had “picked up in recent months.” The April Chicago PMI is seen dipping to 52.6 but often surprises. Final Apr U Michigan consumer sentiment is also due."