Thursday will see Jobless Claims Report and also the index of leading economic indicators which may ironically get a boost from the stock market that, despite the sell-off, still ended last month with on a positive note, with strong gains.
Initial Claims are expected to come in at 230,000 in the February 17 week. Claims have been low and consistent with more hires and less fires.
Despite all the shake-ups, the stock market stayed positive in January, which looks to contribute solidly to the extraordinary strength in ISM new orders.
The Kansas City Manufacturing Report, like other regional reports, has been consistently strong, at a composite score of 16 in January with February’s consensus at 16.5.
Potential Catalysts High Impact
09:00 AM GMT German Ifo Business Climate Index (Feb)
09:30 AM GMT UK GDP (QoQ/ YoY) (Q4)
12:30 PM GMT ECB Monetary Policy Meeting Report
01:30 PM GMT Canada’s Core Retail Sales (MoM) (Dec)
04:00 PM GMT US Crude Oil Inventories
07:45 AM GMT French CPI (MoM) (Jan)
07:45 AM GMT French HICP (MoM) (Jan)
09:00 AM GMT German Business Expectations (Feb)
09:00 AM GMT Italian CPI (MoM) (Jan)
09:45 PM GMT New Zealand Core Retail Sales (QoQ)
11:30 PM GMT Japan National Core CPI (YoY) (Jan)
Gold attempted an advance but reversed by close of the Wall Street Session Wednesday. Oil prices were little changed.
Bitcoin BTCUSD, appeared to have difficulties breaking above trend line resistance. Ripple XRPUSD declined after hitting a high on Tuesday. The market capitalization of all cryptocurrencies is gyrating around the $500 billion mark, according to Coin Desk, and possibly building a base for a step higher.
Euro declined by close of Wall Street Session Wednesday, as the Dollar maintained strength following the Fed Minutes Release. Sterling stayed declined, as Pound took another hit from poor data figures, and Brexit developments. More than 60 Conservative lawmakers wrote Theresa May demanding a quick, clean break from the European Union, putting more pressure on the Prime Minister, according to sources familiar with the matter.
Canadian Dollar stayed weak against the Dollar even though little changed with Oil prices generally. The Yen further weakened against the Dollar following boosted confidence of the Feds regarding positivity with continued rise in Interest Rates.
Dow Jones and S&P500 ended the day on a negative note, but Nasdaq was up 0.2%. Germany’s DAX closed down while France’s CAC was up 0.2%