US: Fed speak and jobless claims in focus - TDS

Research Team at TDS suggests that it’s a quiet day on the US data front with only a couple lower-tier releases but much busier on the Fed front. Harker, Evans, Lockhart, Bullard, Kaplan and Yellen are all due to make public remarks.

Key Quotes

“Though Yellen’s will come after the close (19:00 ET) and is unlikely to offer much guidance on policy given the town hall setting. Turning to the data, TD is below the market on import prices and looks for a 0.4% m/m advance in December (market: 0.7% m/m). We are most upbeat on jobless claims and expect a modest correction to 245k while the market looks for a bounce to 255k.”

“CAD: The focus will remain on housing, with the New Housing Price Index (HPI) for November and the Teranet HPI for December both on the agenda. The market looks for new home prices to advance by 0.3% m/m which would represent an acceleration from 3.0% to 3.1% on a year-ago basis.”