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(H3) More Stable After January Volatility


Futures Little Changed Overnight, Rinban Due


(H3) Edges to February Lows



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MNI US Morning Briefing

     LONDON (MNI) - The first US release of the day comes in the form of Weekly
Jobless Claims at 1230GMT. The level of initial jobless claims is expected to
decline by 3,000 to 240,000 in the October 14 employment survey week after a
15,000 decrease in the previous week. Claims were at a level of 260,000 in the
September 16 employment survey week.
     The levels of initial and continuing filings remain elevated, particularly
in the hurricane-impacted regions, but the overall level has nearly returned to
pre-hurricane levels. The four-week moving average would fall by 5,000 in the
coming week as that 260,000 level in the September 16 week drops out of the
calculation, assuming the MNI forecast is correct and there are no revisions.
     Also at 1230GMT Philadelphia Fed Manufacturing Index is released. The index
is forecast to fall back to a still-solid reading of 21.0 in October following a
gain in September to 23.8.
     At 1330GMT Kansas City Federal Reserve Bank President Esther George is
scheduled to speak on "The U.S. Economy: Rural and Urban Growth" in Atlus,
Oklahoma, with audience Q&A.
     The US Bloomberg Consumer Comfort Index is released at 1345GMT, followed
swiftly by the US Leading Indicator at 1400GMT. The index of leading indicators
is forecast to rise by 0.1% in September.
     Positive contributions are expected from the ISM new orders index and
consumer expected, offset by negative contributions from the surge in initial
claims due to the hurricanes and slightly shorter factory workweek.
     At 1430GMT US Natural Gas Stocks figures are scheduled to be published.
     At rounding off the day at 2030GMT the Fed Weekly Money Supply data will
hit the wires.
--MNI London Bureau; +44 203 865 3809; email:

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