The weekly US initial jobless claims report is due out today and expected to decline to 240K from 249K.
Last week, claims jumped to the highest in a year but there was a skew from Hurricane Beryl that may reverse this week. If so, it could signal ongoing strength in the economy. But if claims stay high (near the consensus) then it implies a slowing jobs market.
Otherwise, there isn’t much on the economic calendar today. We get wholesale sales at 10 am ET, a 30-year bond auction at 1 pm ET and comments from the Fed’s Barkin at 3 pm ET.
This article was written by Adam Button at www.forexlive.com.
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