US: Initial jobless claims and Q1GDP in focus - Rabobank

Michael Every, Head of Financial Markets Research at Rabobank, suggests that today we have US initial claims, which plunged to multi-decade lows last week and are seen edging back up to 259K this week.

Key Quotes

“That comes ahead of the first look at Q1 GDP. The estimate for this is just 0.6% q-o-q annualized as once again the ‘first quarter curse’, which seems immune to double seasonal-adjustment, drags down growth. However, the core PCE deflator, the Fed’s favourite measure, is seen jumping from 1.3% to 1.9%. if so, for many of us that really could mean ‘Fed up again’.”