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(CEP News) - With a shortened trading week due to Good Friday, a barrage of key economic data are scheduled for release on Thursday, including U.S weekly jobless claims and February trade balance along with some Fed speakers. Meanwhile, Canadians will pay attention the international merchandise trade balance.
At 8:30 a.m. EDT, Statistics Canada will release the international merchandise trade balance, which is expected to come in at -C$1.2 billion versus the previous month's -C$1.0 billion level. Simultaneously, Statistics Canada will release the new housing price index for February, which is expected to decline 0.5% month-over-month following a 0.6% contraction in January. At 8:30 a.m. EDT, the U.S. Department of Commerce will release the February trade balance, which is expected to remain unchanged from January's -$36.0 billion level. Also at 8:30 a.m. EDT, the U.S. Bureau of Labor Statistics will release the import price index for March. Economists expect a 0.9% month-over-month gain following February's 0.2% contraction, resulting in an annual 14.7% loss, compared to the 12.8% decline the month prior. At the same time, the U.S. Department of Labor will release initial and continuing jobless claims for the weeks ending April 4 and March 28, respectively. Economists expect initial jobless claims to fall to 660k from 669k the week prior, while continuing claims are expected to reach 5800k, compared to the previously recorded 5728k reading. At 10:30 a.m. EDT, the U.S. Energy Information Administration will release natural gas storage for the week ending April 3. Economists expect a build of 12 Bcf, compared to the previous week's flat reading. At 11:30 a.m. EDT, the U.S. Treasury will sell $18 billion in the reopening of a 10-year TIPS auction. At noon EDT, Yves Mersch, head of Luxembourg's Central bank, will speak at an event in Luxembourg. At 12:15 p.m. EDT, Minneapolis Fed President Gary Stern (non-voter) will speak at the South Dakota Economic Summit in Sioux Falls. At 1 p.m. EDT, Kansas City Fed President Thomas Hoenig (non-voter) will speak on the U.S. economy at an event in Tulsa, Oklahoma. All times in EDT. 8:30 CA New Housing Price Index (M/M) February Exp: -0.5% Prior:-0.6% 8:30 CA International Merchandise Trade February Exp: -$1.2B Prior:-$1.0B 8:30 US Trade Balance February Exp: -$36.0B Prior:-$36.0B 8:30 US Import Price Index (M/M) March Exp: +0.9% Prior:-0.2% 8:30 US Import Price Index (Y/Y) March Exp: -14.7% Prior:-12.8% 8:30 US Initial Jobless Claims W/E April 4 Exp: +660K Prior: +669K 8:30 US Continuing Claims W/E March 28 Exp: +5800K Prior: +5728K 10:30 US EIA Natural Gas Storage Change W/E April 3 Exp: 12 Prior: +0 12:15 US Fed's Stern Speaks at an event in Sioux Falls, South Dakota 12:00 EU ECB's Mersch Speaks at an event in Luxembourg 13:00 US Fed's Hoenig Speaks at an event in Tulsa, Oklahoma 13:00 US Treasury to Sell $18B 10-Year Notes Reopening April US ICSC Chain Store Sales (Y/Y) March Exp: -0.8% Prior:-0.1% By Erik Kevin Franco,
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, edited by Stephen Huebl,
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