breaking news Consolidation is on the menu ahead of Friday’s jobs report

It’s a light on the economic calendar today. The only highlight of the data is the initial jobless claims report at the bottom of the hour. The consensus is a bump from 203K to 193K. I think the Fed would like to see that number down to 230-250K, where it was before the pandemic.

The Fed calendar includes:

  • 9:50 a.m. ET Master
  • 11:50 a.m. ET BOC’s Macklem
  • 1 p.m. ET Fed’s Cook (his first speech)
  • 5 p.m. ET Fed Waller

The clock is ticking for non-farm payrolls and, sterling weakness aside, it looks like some consolidation is on the menu.


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