Follow Paul Donovan

Time to talk again

| Tags: Paul Donovan

  • Fed Chair Yellen makes her way to the Senate to give her delayed semi-annual testimony. The slight chill in the air over Washington DC delayed her earlier planned appearance, and has distorted the data since. Rosengren of the Boston Fed was emphasising that weather will not impact the Fed's quantitative policy.
  • Initial jobless claims may attract attention - although only a weekly number, the uncertainties that surround the labour market in the US are likely to be an important concern this year: the speed of employment improvement, and questions around where the natural rate of unemployment sits are significant.
  • Euro area business and consumer confidence is seen broadly static (business) and slightly weaker (consumer), although the main concern for markets is probably less around the aggregate and more around the degree of divergence (we have confidence details from France and Italy).
  • Euro area money supply data is expected to remain its normal sluggish self. The figures rather emphasise the limited options that the ECB has at its disposal.

Listen to the audio version of this briefing.