There were no data release from Australia yesterday. China’s rising power and a resurgent trans-Pacific trade pact will be at the top of the agenda when Australian Prime Minister Malcolm Turnbull and U.S. President Donald Trump meet in Washington this week, an Australian official said on Thursday. The meeting comes as both seek to repair a relationship damaged last year by a row over asylum seekers in which Trump lambasted Turnbull over a resettlement arrangement that he labelled a “dumb” deal. The prime minister is traveling with a large delegation of business leaders and he is very keen to talk trade opportunities, while China will obviously be an important element of the talks,” said the Australian government official, who declined to be identified because he is not authorized to talk to the media.
In the US session Unemployment Claims figures were released. In the week ending February 17, the advance figure for seasonally adjusted initial claims was 222,000, a decrease of 7,000 from the previous week's revised level. The previous week's level was revised down by 1,000 from 230,000 to 229,000. The 4-week moving average was 226,000, a decrease of 2,250 from the previous week's revised average. Claims taking procedures in Puerto Rico and in the Virgin Islands have still not returned to normal.
There will be no major data releases both from Australia and USA tomorrow, so we can expect a bit steadier session.
