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USDCAD TECHS

Stronger In a Range

AUDUSD TECHS

Weaker In A Range

US TSYS SUMMARY

Ending The Week On A Soft Note

EURJPY TECHS

Bearish Risk Growing

USDJPY TECHS

Stronger, But Still Vulnerable

US

SP500 PE Ratio vs. CPI Inflation

MNI Global Morning Briefing

Thursday's data calendar is quiet with no speeches scheduled in Europe, while the release of Initial jobless claims and import and export prices, both published at 1330GMT, are the highlight of the day in the U.S.

US jobless claims seen unchanged

Source: Bloomberg

U.S. initial jobless claims filed through January 9 are expected to hold steady at 785,000 after touching 787,000 through the week to January 2. Stubbornly high initial and continuing claims levels and a loss of 140,000 jobs in December suggest some labour market deterioration following a period of tepid recovery. As of December 19, 19.2 million Americans were claiming unemployment insurance benefits.

US import prices expected to increase

US import prices edged up 0.1% in November after falling by 0.1% in the previous month. The report noted that higher fuel prices offset lower non-fuel prices in November. Excluding fuel, import prices ticked down 0.3% in November, which is the first decline since April. On an annual basis, import prices are 1.0% lower than a year ago. In December markets are looking for an acceleration of the import price index to 0.7%, while the export price index is seen at November's level of 0.6%. US export prices accelerated to 0.6% in November, up from 0.2% recorded in October.

The events calendar holds several interesting speakers in the cards including Fed's Eric Rosengren, Raphael Bostic, Jay Powell and Rob Kaplan.

MNI London Bureau | +44 203-865-3814 | irene.prihoda@marketnews.com