The main US data releases for the week ahead include some indicators related to the labour market, while the Philadelphia Fed's survey of manufacturers will be one of the week's highlights. Fed policymakers will be mostly out of the public eye as the FOMC meeting approaches. The Philadelphia Fed's Business Outlook for April on Thursday should print at a lower level for the general activity index, but this could still be quite robust by historical standards. Initial jobless claims for the week ended April 16 on Thursday will be the survey comparison week to March. New claims are showing a choppy downward trend in recent weeks, while continuing claims and extended benefits also work lower. There are fewer layoffs being reported outside of government, although job adds are slow. The BLS will release numbers on state and regional unemployment for March on Tuesday. These will provide some detail to the national employment report, but should not change the overall picture of the labour market. Data on mass layoff activity for March will be released on Friday. Except for the government sector, large scale layoffs are both fewer in number and affecting fewer workers per event. The Conference Board's Leading Economic Index for March on Thursday should continue to exhibit a rising trend for activity. Consumer confidence and stock prices will be negatives, but other components should more than offset these.
No major central banks are scheduled to make routine monetary policy statements in the coming week. There is a brief flurry of Fed policymakers giving public comments on Monday in advance of the press blackout period that precedes an FOMC meeting. Comments from...Read more
