US: Advance goods trade deficit, jobless claims and new home sales data in focus - TDS

Analysts at TDS suggests that today economic data flow for the US is finally going to pick up TD looks for the advance goods trade deficit to narrow modestly from $65.3bn to $64.9bn while the market looks for no change.

Key Quotes

“Initial jobless claims are expected to bounce off recent lows, with TD’s forecast of 248k roughly in line with the market consensus. December new home sales are the last item on the calendar and TD looks for a modest 0.5% m/m increase to push the annualized pace to 595k. Sales activity should benefit from a flow of home buyers hoping to lock in rates before the new year while the demand side could see a boost due to further gains in the labor market. The market is less upbeat and looks for a 0.7% decline on the month.”