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breaking news Initial jobless claims and upcoming Philly Fed

The market is currently sending mixed signals. The US dollar is lower, but stock futures are down 0.8%. Yields are down again and that explains some of the USD weakness, but not against NZD, for example, which recovered all of yesterday’s decline.

Whenever there is volatility, economic data takes on added importance.

Today the numbers pile up at the bottom of the hour with:

  • Initial jobless claims
  • Philly Fed manufacturing (shown above)
  • Canadian PPI
  • Canadian New Home Price Index

At 10 a.m., the US Existing Home Sales report came out.

In the macro view I don’t see much exciting but be on your guard.


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