US: Jobless claims in the focus - Rabobank

Analysts at Rabobank point out that in the US, we have initial jobless claims and according to Bloomberg’s survey is expected to come in at 229K, lower than the previous number 234K, which will provide further insight into how much the US labour market continues to tighten (or not).

Key Quotes

“The more closely watched figure for that however will be tomorrow’s non-farm payrolls data. Yesterday’s ADP employment change data came in below market expectations (178K vs 190K expected).”

“There will also be some consumption-related data from the US, with April personal income and real personal spending. Last month, these came in at 0.3% and 0.4% m/m respectively, and both are expected to show similar growth in April. Pending home sales are also expected to remain steady at 0.4% m/m according to Bloomberg’s survey.”