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21 May 2015
US jobless claims expected higher from previous week – KBC
FXStreet (Barcelona) - The KBC Bank Research Team previews the key events and US data release ahead for the day, and further mentions that a stronger than expected data outcome is required to give the dollar additional interest rate support.
Key Quotes
“The jobless claims are expected higher from a low level last week. The Philly Fed business outlook is expected marginally higher from 7.5 to 8.0. Existing home sales are forecast to increase slightly (1.0%) after a substantial rise in the previous month.”
“Markets will look for evidence that the US economy is finally regaining momentum after a poor Q1 performance. The dollar is sensitive to this issue too.”
“Stronger than expected US eco data might give the dollar additional interest rate support, as was the case earlier this week.”
“Greece will probably continue to provoke headlines. It might be a slightly negative for the euro, but still we don’t give too much weight to this factor.”
“From an intraday perspective, the data/news flow might be slightly euro negative/USD positive, but the early day momentum in Asia isn’t that USD supportive. A cautious sell-on-upticks bias for EUR/USD is still preferred short-term.”
Key Quotes
“The jobless claims are expected higher from a low level last week. The Philly Fed business outlook is expected marginally higher from 7.5 to 8.0. Existing home sales are forecast to increase slightly (1.0%) after a substantial rise in the previous month.”
“Markets will look for evidence that the US economy is finally regaining momentum after a poor Q1 performance. The dollar is sensitive to this issue too.”
“Stronger than expected US eco data might give the dollar additional interest rate support, as was the case earlier this week.”
“Greece will probably continue to provoke headlines. It might be a slightly negative for the euro, but still we don’t give too much weight to this factor.”
“From an intraday perspective, the data/news flow might be slightly euro negative/USD positive, but the early day momentum in Asia isn’t that USD supportive. A cautious sell-on-upticks bias for EUR/USD is still preferred short-term.”