While it is true that the central bank meetings of recent weeks have been confirmed – especially due to the substantial changes undertaken in monetary policy – as one of the catalysts that most move the market, it is also true that every time once again, on the market, the macroeconomic figures on which the members of these entities rely to make their decisions are closely monitored.
Numbers like initial unemployment claims or the US GDP Growthpublished this week in the North American country, have gained prominence on global stock markets in recent weeks, especially after the president of Fed -Jerome Powell- announced that he would begin to pay more attention to a possible excessive cooling of the labor market rather than inflation.
In this context, the market consensus gathered by Bloomberg expects weekly U.S. jobless claims to reach 219,000.Although the main figures continue to confirm the good state of the North American economy, it seems that the note of weakness in the evolution of unemployment is currently taking center stage, but only as long as current trends continue,” explains José Ignacio Arenzana, of the Spanish Institute of Analysts.
Allianz Global Investors, for their part, are focusing on Europe: “In a gloomy economic context, the publication of the Eurozone purchasing managers’ indices (PMI) will be decisive next week.“, they point out. “A further decline in these indices could reinforce the idea that the ECB is accelerating the pace of rate cuts earlier than expected,” they add and point out that this is the first month since 2019 in which both Fed like him ECB They have reduced their prices.
