Eyes on initial jobless claims data after last week’s jump

The weekly US initial jobless claims report is due out today and expected to decline to 240K from 249K.

Last week, claims jumped to the highest in a year but there was a skew from Hurricane Beryl that may reverse this week. If so, it could signal ongoing strength in the economy. But if claims stay high (near the consensus) then it implies a slowing jobs market.

Otherwise, there isn’t much on the economic calendar today. We get wholesale sales at 10 am ET, a 30-year bond auction at 1 pm ET and comments from the Fed’s Barkin at 3 pm ET.

This article was written by Adam Button at www.forexlive.com.