US: Focus on Jobless Claims and Philly Fed Survey - Nomura

Analysts at Nomura suggest that the initial jobless claims and Philly Fed survey are going to be the key economic releases for today’s US session.

Key Quotes

“Initial jobless claims may be unusually volatile due to the impact of Hurricanes Florence and Michael but, excluding weather effects, we expect claims to remain consistent with steady labor market strength.”

“Philly Fed survey: Consistent with our forecast for the October Empire State survey, we expect the Philly Fed survey to remain elevated in October with a headline reading of 21.0, only a minor step down from 22.9 in September.”