US: Focus on Philadelphia Fed and jobless claims – TDS

Research Team at TDS, suggests that the US Philadelphia Fed Index is projected to rebound in April following a 14 point slide last month.

Key Quotes

“The market consensus is for the business outlook to increase from -1.6 to 3.0, though TD sees an upside risk to the market and is calling for a bounce to 6.5.

Meanwhile, jobless claims are widely expected to pullback after a 20k jump last week to 294k. TD is broadly in line with the market and looks for the pace of claims to slow to 277k, just 2k above consensus.

The leading index for April will be the last data release of the morning and should see a 0.3% m/m advance; the market is slightly more upbeat and looks for 0.4% m/m.”