US: Focus back on Fed speakers - TDS

Analysts at TDS suggest that the focus returns to Fed speakers in the US and there are three scheduled to give their outlook for the economy and monetary policy.

Key Quotes

“NY Fed President Dudley’s outlook will be the most important for gauging future Fed policy but he is not scheduled to speak until 19:00 ET, well after the close. Cleveland Fed President Mester (non-voter, hawk) will give at 12:15 ET while Kansas City Fed President George (non-voter, hawk) will also speak after the close at 20:15 ET.”

“On the data front, initial jobless claims are expected to jump to 245k from 236k due to the impact of Hurricane Harvey. We will also get revisions to Q2 productivity and unit labor costs. TD looks for nonfarm productivity to be revised higher to 1.5% from 0.9% (market: 1.3%) while unit labor costs should see downward revisions to 0.0% from 0.6% (market: 0.3%).”