Thursday April 24, 2008 - 13:37:28 GMT
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CEP News - www.economicnews.ca
Thursday's Events: BOC MPR, U.S. Durable Goods, Jobless Claims
07:22 04/24 (CEP News) - The Bank of Canada's monetary policy report
will top the Canadian economic releases on Thursday as U.S. markets
brace for durable goods orders, jobless claims and new home sales.
Europeans will also receive comments from a myriad of European Central
Bank speakers from a conference in Frankfurt.
At 8:30 a.m.
EDT, European Central Bank President Jean-Claude Trichet will speak
alongside Governing Council members Jurgen Stark, Axel Weber, John
Hurley, Miguel Angel Fernandez Ordonez, Klaus Liebscher, Jose Manuel
Gonzalez Paramo and Athanasios Orphanides at the Fourth European
Central Bank Conference on Statistics, titled â€˜A strategic vision for
statistics: Challenges for the next 10 yearsâ€™ in Frankfurt.
Simultaneously, the U.S. Department of Commerce will release its
durable goods report for March. Economists are expecting durable goods
orders to rise 0.1% month-over-month after falling a revised 1.1% in
February. Durable goods excluding transportation are expected to pick
up 0.5% after a previous 2.4% decline. Non-defence capital goods
excluding aircraft are expected to remain unchanged from February, when
the figures declined 2.4%.
Also at 8:30 a.m., the U.S. Department of Labor will release initial
and continuing jobless claims for the weeks ending April 19 and 12
respectively. Initial jobless claims are expected to increase 375k
after picking up 372k in the previous week. Continuing claims are
expected to reach 2990k from the previous 2984k level.
At 10 a.m. EDT, the U.S. Conference Board will release its help wanted
index for March, which economists expect to decline to 20 from the
previous month's level of 21.
Also at 10 a.m., the U.S. Census Bureau will release new home sales for
March. The consensus is for sales to total 580k to mark a 1.7%
month-over-month decline from February's 590k level. In February, new
home sales pulled back 1.8%.
At the same time, General Counsel of the Federal Reserve Board Scott
Alvarez will testify before the Senate Banking Committee on regulation
and sovereign wealth funds.
At 10:30 a.m. EDT, the U.S. Energy Information Administration will
release natural gas storage for the week ending April 18, which
economists expect to pick up 30 billion cubic feet following a 27 Bcf
build in the prior week.
Also at 10:30 a.m., the Bank of Canada will release its monetary policy
report. The release will be followed by a press conference from BOC
Governor Mark Carney and Deputy Governor Paul Jenkins.
At 1 p.m. EDT, the U.S. Treasury will sell $19 billion in five-year notes.
Also at 1 p.m., Assistant Secretary for Tax Policy Eric Solomon will
deliver remarks on current developments in tax policy in New York City.
At 4:30 p.m. EDT, the Fed will release M1 and M2 money supply for the week ending April 14.
8:30 US Durable Goods Orders March Exp: +0.1% Prior: -1.7% Revised: -1.1%
8:30 US Durables Ex Transportation March Exp: +0.6% Prior: -2.6% Revised: -2.4%
8:30 US Durable Nondefence Capital Goods Excluding Aircrafts Prior -2.4%
8:30 US Initial Jobless Claims 19-Apr Exp: +375K Prior: +372K
8:30 US Continuing Claims 12-Apr Exp: 2990K Prior: 2984K
10:00 US Help Wanted Index March Exp: 20 Prior: 21
10:00 US New Home Sales March Exp: 580K Prior: 590K
10:00 US New Home Sales (M/M) March Exp: -1.7% Prior: -1.8%
10:00 US Fed Alvarez testifies on Sovereign Wealth Funds
10:30 US EIA Natural Gas Storage Change 18-Apr Prior: +30 Bcf
10:30 CA Bank of Canada Monetary Policy Report
13:00 US TSY Solomon speaks on Developments in Tax Policy at an event in New York City
13:00 US TSY to Sell $19B in 5-Year Notes
16:30 US M1 and M2 Money Supply
By Erik Kevin Franco, [email protected], edited by Nancy Girgis, [email protected]
(END) Â©CEP Newswires - Â©CEP News Ltd. 2008. All Rights Reserved. www.economicnews.ca
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