US: Focus on housing data today - Rabobank

More US housing market data are scheduled for today with the new home sales and the Bloomberg consensus is a 7.9% decline in December, points out the research team at Rabobank.

Key Quotes

“Initial jobless claims for last week are seen to rise to 235K from 220K in the second week in January. However, that would still leave initial jobless claims at extremely low levels. This is in line with other labor market data such as the unemployment rate that has been at 4.1% in the last three months of 2017.”

“Later today, the Atlanta Fed will release the final update of its nowcast for Q4 US GDP growth. The January 18 update stood at 3.4%. The current Bloomberg consensus forecast is 3.0%. The official advance estimate of Q4 GDP growth will be published by the BEA tomorrow.”

“Also, President Trump is expected to arrive at Davos today and deliver a keynote address to the World Economic Forum tomorrow.”