What are the main events for today?

December 05, 2024 at 07:39AM
The only notable release in the European session will be the Eurozone Retail Sales data. In the American session, we get the latest US Jobless Claims figures. We are so used to good/stable claims that it’s unlikely to be market moving unless we get huge deviations from the expected numbers. We have also the OPEC+ meeting today where an extension of the production cuts until the end of Q1 2025 is expected.

13:30 GMT/08:30 ET – US Jobless Claims

The US Jobless
Claims continues to be one of the most important releases to follow every week
as it’s a timelier indicator on the state of the labour market.

Initial Claims
remain inside the 200K-260K range created since 2022, while Continuing Claims continue
to hover around the cycle highs.

This week Initial
Claims are expected at 215K vs. 213K prior, while Continuing
Claims are seen at
1905K vs. 1908K prior.

Central bank speakers:

10:00 GMT – ECB’s Vujcic (neutral – voter)

17:00 GMT/12:00 ET – BoE’s Greene (neutral – voter)

17:15 GMT/12:15 ET – Fed’s Barkin (neutral – voter)

This article was written by Giuseppe Dellamotta at www.forexlive.com.