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Thursday’s early data schedule focuses on French manufacturing sentiment and Eurozone final inflation, before shifting to US jobless claims and Eurozone consumer sentiment in the afternoon.
French Manufacturing Sentiment (0745 BST)
French manufacturing confidence is expected to soften by two points to 104 in April, the lowest in 12 months, on the back of surging factory gate costs (PPI +22.4% y/y in Feb) and supply chain disruptions worsened by the Ukraine war.
Eurozone Final March Inflation (1000 BST)
Euro area HICP is to be confirmed at +7.5% y/y and +2.5% m/m for March, with core inflation at +3.0% y/y. On the year, March saw a 1.6-point surge to a fresh euro-area high, confirming the uncomfortable consequences of soaring energy prices.
US Weekly Jobless Claims (1330 BST)
Jobless claims are likely to step down 5,000 to 180,000, and continuing claims to slow further by 16,000 to 1.459 million. Joblessness remains below pre-pandemic levels as the US labour market continues to be robust, underpinning the Fed’s confidence in a 50bp hike ahead of the May 3-4 meeting.
Eurozone Consumer Confidence (1500 BST)
The April flash will highlight a stabilisation of confidence in the region, albeit at highly pessimistic levels, following the shock of the Ukraine invasion. Analysts are looking for a small decline to -20.0 from -18.7 previously.
As inflation worries run high and consumers feel the squeeze of Russian oil sanctions, the focus here will be on whether consumers believe the situation will not worsen.
Source: European Commission
The ECB’s President Lagarde and Panetta will be participating again in IMF/World Bank meetings today. The BOE’s Catherine Mann and Governor Andrew Bailey, as well as Fed Chair’s Jerome Powell and St. Louis Fed’s James Bullard will also be making appearances today.
| Date | GMT/Local | Impact | Flag | Country | Event |
| 21/04/2022 | 2301/0001 | * |  | UK | XpertHR pay deals for whole economy |
| 21/04/2022 | 0645/0845 | ** |  | FR | Manufacturing Sentiment |
| 21/04/2022 | 0900/1100 | *** |  | EU | HICP (f) |
| 21/04/2022 | - | | EU | ECB Lagarde & Panetta in IMF/World Bank Meetings | |
| 21/04/2022 | 1230/0830 | ** |  | US | Jobless Claims |
| 21/04/2022 | 1230/0830 | ** | | US | Philadelphia Fed Manufacturing Index |
| 21/04/2022 | 1230/0830 | ** | | US | WASDE Weekly Import/Export |
| 21/04/2022 | 1300/1400 | | UK | BOE Mann Speaks at BOE Webinar | |
| 21/04/2022 | 1400/1600 | ** | | EU | Consumer Confidence Indicator (p) |
| 21/04/2022 | 1430/1030 | ** | | US | Natural Gas Stocks |
| 21/04/2022 | 1500/1100 | | US | Fed Chair Jerome Powell | |
| 21/04/2022 | 1530/1130 | ** | | US | NY Fed Weekly Economic Index |
| 21/04/2022 | 1530/1130 | ** | | US | US Bill 04 Week Treasury Auction Result |
| 21/04/2022 | 1530/1130 | * | | US | US Bill 08 Week Treasury Auction Result |
| 21/04/2022 | 1630/1730 | | UK | BOE Bailey at Peterson Institute Event | |
| 21/04/2022 | 1630/1230 | | US | St. Louis Fed's James Bullard | |
| 21/04/2022 | 1700/1300 | ** | | US | US Treasury Auction Result for TIPS 5 Year Note |
| 21/04/2022 | 1700/1300 | | US | Fed Chair Jerome Powell | |
| 21/04/2022 | 1700/1900 | | EU | ECB Lagarde at IMF Debate |
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.