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Initial Claims Preview - 08:30 EDT/13:30....>

US DATA
US DATA: Initial Claims Preview - 08:30 EDT/13:30 BST
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- The level of initial claims is expected to decline by 8,000 to 220,000 in the
May 11 week, based on forecasts by both the Bloomberg consensus and MNI survey
of analysts.
- The elevated level of claims in recent weeks has been in large part due to
seasonal adjustment issues. However, those should begin to shake out of the data
(and many feel they should have already), so the true underlying claims level
should be seen this week.
- The four-week moving average, which had hit decades-low levels only a month
ago, will rise further this week as the 193,000 level in the April 13 week --
itself a 50-year low, will roll out of the data. 

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