Trader’s Calendar for Today

We have another quiet European session with no significant data to be released. In the U.S. session, the focus will be on the U.S. PPI and jobless claims.

14:30 – U.S. February PPI The annual PPI index in the U.S. is expected to be 3.3%, down from 3.5% previously, while the monthly index is expected to be 0.3%, down from 0.4% before. The annual Core PPI is expected to be 3.5%, down from 3.6%, and the monthly index is expected to remain at 0.3%, unchanged from before.

We received a soft CPI yesterday, but the details leading to the Core PCE were not as promising, with early estimates suggesting the annual Core PCE will be 2.7%, up from 2.6% previously, and 0.3%, unchanged from before. This may explain yesterday’s price movement, although judging by the weak momentum, the market is likely waiting for the PPI data, as they could significantly alter the PCE estimates.

14:30 – U.S. Jobless Claims Jobless claims in the U.S. continue to be one of the most important data points to monitor every week, as they are a more current indicator of the state of the labor market.

Initial claims remain within the 200K-260K range, formed since 2022, while continuing claims remain near the cycle peaks.

This week, initial claims are expected to be 225K, up from 221K previously, while continuing claims are expected to be 1900K, up from 1897K previously.4o mini