All eyes on USA GDP today – TDS

By FXStreet FXStreet (Delhi) – Research Team at TDS, suggests that the US advance Q4 GDP is the key highlight for the day.

Key Quotes

“There is no clear consensus with estimates ranging from –2% to +1.7% on an annualized quarterly basis; TD is tracking for 0.0% after today’s abysmal durable goods report while the median forecast is for +0.8%.

TD expects the advance goods trade balance for December to widen slightly from –$60.5b to –$61.2b, while the consensus is for it to narrow to –$60.0b. January’s University of Michigan Consumer Confidence is expected to retreat from its preliminary 93.3 reading to 93.0; TD is markedly more bearish and believes the worsening tone from data in recent weeks will push the index lower to 90.0.

TD looks for the Q4 Employment Cost Index to show a 0.4% quarterly increase in wages, lower than the consensus estimate of 0.6%. Rounding out the calendar will be regional PMIs for Chicago and Milwaukee, the market looks for a small uptick in both indices for January.”
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Source:: FX Street