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USD - Major events in the week ahead

Friday, Oct 27 2017
USD - Major events in the week ahead

Events that marked the week:

On Wednesday Durable Goods Orders data was published. U.S. orders for business equipment increased more than forecast in September, indicating solid investment momentum as the third quarter drew to a close, Commerce Department figures showed Wednesday. Non-military capital goods orders excluding aircraft climbed 1.3% (est. 0.3% gain) for a third straight month. Shipments of those goods, which are used to calculate gross domestic product, rose 0.7% (est. 0.1% gain) after a revised 1.2% advance. Bookings for all durable goods jumped 2.2% (est. 1% advance) following 2% increase. Excluding transportation-equipment demand, which is volatile, orders rose 0.7% for a second month.

Thursday brought Unemployment Claims data. U.S. filings for unemployment benefits rose last week from the lowest level since 1973, consistent with a steady job market, Labor Department figures showed Thursday. Jobless claims increased by 10k to 233k (est. 235k). Continuing claims fell by 3k to 1.89m in week ended Oct. 14, lowest since December 1973 (data reported with one-week lag). Less-volatile four-week average of initial claims declined to 239.5k from 248.5k in prior week.

 

Friday was marked by GDP data. Real gross domestic product (GDP) increased at an annual rate of 3.0 percent in the third quarter of 2017, according to the "advance" estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 3.1 percent. The Bureau emphasized that the third-quarter advance estimate released today is based on source dana that are incomplete or subject to further revision by the source agency. The "second" estimate for the third quarter, based on more complete data, will be released on November 29, 2017.

 

This week markets will be looking at:

 

Chicago PMI (Tuesday 15:45)

CB Consumer Confidence (Tuesday 16:00)

ADP Non-Farm Employment Change (Wednesday 14:15)

ISM Manufacturing PMI (Wednesday 16:00)

Federal Funds Rate/FOMC Statement (Wednesday 20:00)

Unemployment Claims (Thursday 14:30)

Non-Farm Employment Change/Unemployment Rate (Friday 14:30)

ISM Non-Manufacturing PMI (Friday 16:00)

More in this category: « U.S. Consumer Sentiment declined to 100.7 Sydney is leading what looks like a slowdown in the Australian housing market »

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