Today we have lots of data on the agenda but most of them are low tier or final releases which shouldn’t influence markets expectations much. In the European session, the highlights include the Spanish CPI and Switzerland Q4 GDP.

In the American session, we have the US Durable Goods Orders, the second estimate of the US Q4 GDP and the most important release of the day: the US Jobless Claims.

Keep an eye also on Trump headlines as he’s scheduled to speak to the media at 14:00 GMT/09:00 ET and then hold a press conference with the UK PM at 19:00 GMT/14:00 ET.

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

The US Jobless Claims continue 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. Given the recent growth scare, a jump above the upper bound of the range will likely send markets into risk-off again.

Initial Claims remain inside the 200K-260K range created since 2022, while Continuing Claims continue to hover around cycle highs although we’ve seen some easing recently.

This week Initial Claims are expected at 221K vs. 219K prior, while Continuing Claims are seen at 1872K vs. 1869K prior.

Central bank speakers:

• 15:00 GMT/10:00 ET – Fed’s Barr (dove – voter)
• 16:45 GMT/11:45 ET – Fed’s Bowman (hawk – voter)
• 18:15 GMT/13:15 ET – Fed’s Hammack (hawk – non voter)
• 20:15 GMT/15:15 ET – Fed’s Harker (neutral – non voter)

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