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.
Wednesday's data calendar is quiet in Europe, while in the US the release of initial jobless claims and durable goods orders, both at 1330MT, are the highlight of the day.
US weekly jobless claims forecast to slow
Initial jobless claims filed through November 21 should dip to 725,000 after climbing to 742,000 in the week ending November 14, which was the first weekly increase in a month. Despite last week's increase, weekly initial claims have continued to trend downward. Still, recipients of Pandemic Unemployment Assistance (PUA) and Pandemic Emergency Unemployment Compensation (PEUC) are rising. Those programs, authorized under the CARES Act, expire in just over a month.
US durable goods orders projected to ease
New orders for manufactured durable goods are expected to increase again in October, although at a slower pace of 0.9% following September's growth rate of 1.9%. Last month's uptick marked the fifth consecutive gain in durable goods orders. Excluding transportation, orders are projected to rise by 0.5% in October after ticking up 0.9% in the previous month. Survey evidence is in line with market forecasts. The IHS manufacturing PMI noted a strong uptick in new business in October, while the ISM manufacturing PMI recorded the fifth consecutive gain in new orders.
Wednesday's events calendar is quiet following two busy days. The only speech is scheduled is by ECB's Kerstin af Jochnick who participates at panel discussion at a SAFE Frankfurt.
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.