US: Jobless claims likely to post another high reading? – TDS

In view of analysts at TD Securities, the key data in the US will be jobless claims and the Philadelphia Fed survey.

Key Quotes

“On claims, last week's 252K reading was well above the recent sub-220K trend and, on the surface, another relatively high reading, as we are forecasting, could suggest that the labor market is starting to weaken significantly. However, our 240K forecast reflects our second-guessing of the seasonal adjustment process, which is especially challenging at this time of year. We caution against extrapolating unless the rise is sustained in coming weeks.”

“The Philadelphia Fed survey will mostly, but not entirely, reflect pre-China-trade-deal responses.”