At 2:00 AM Germany Q1 GDP q/q (exp 0.5%, prev 0.5%)
Germany Q1 GDP y/y (exp 3.6%, prev 3.6%)
At 4:00 AM Germany May Ifo Current Conditions (exp 113.5, prev 113.2)
Germany May Ifo Index (exp 108.8, prev 108.6)
At 8:30 AM US Weekly Jobless Claims (exp 305.0k, prev 293.0k)
US April Durable Goods Orders (exp 1.0%, prev 3.8%)
US April Durable Goods Orders ex-transports (exp 0.6%, prev 1.4%)
At 10:00 AM US April New Home Sales (exp 860k, prev 858k)
The greenback is mixed in early Thursday trading, firmer against the euro and yen while continuing to trade on its heels versus the sterling and Loonie. Currency movements have been largely dictated by sentiment on the outlook for global interest rate differentials, with the currencies of the central banks most likely to further tighten policy benefiting from market expectations. Inflation remains buoyed in countries such as the UK and Canada resulting in heightened expectations for rate hikes from their respective central banks.
US economic data for the coming session will see weekly jobless claims, April durable goods orders and new home sales. Weekly jobless claims are forecasted to edge up to 305.0k, from 293.0k the previous week. Durable goods orders for April are seen retreating to 1.0%, versus a robust 3.8% reading previously. Durable goods orders excluding transports is also lower to 0.6% from 1.4% in March. Meanwhile, April new home sales are seen edging higher to 860k versus 858k a month earlier.
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