• ECB speaches to highlight Thursday’s calendar
  • US data includes claims, Philly Fed and leading indicator

It would be hard to beat Wednesday calendar in terms of market events so Thursday’s one is – frankly – not even trying. This is a good thing for investors who can digest the message from Janet Yellen and adjust accordingly. Meanwhile the key points today are:

ECB speaches:

10:30am BST Executive Board Member Praet chairs a panel in Frankfurt

2:30pm Mario Draghi speaks in Frankfurt – this could be potentially a market mover but Draghi will speak on systemic risk so he may not refer to monetary policy

US data:

1:30pm BST weekly jobles claims (consensus 302k, up from 284k) – this figure is still affected by temporary effects of hurricanes

1:30pm Philly Fed business activity index (consensus 17.1 pts., down from 18.9 pts. in August) – regional but one of the first surveys for September

3pm Leading Index, this time for August (consensus +0.3% m/m)

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Bottoming out? US dollar index (USDIDX on xStation) has rebounded sharply but downward sloping resistances are yet to be broken. Source: xStation5