Daily digest market movers: Cherry picking in the data

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  • The first batch of data is due at 12:30 GMT, and can be cut into two pieces:
    • The US Gross Domestic Product final reading for Q4 will be released:
      • Headline GDP is expected to remain unchanged from the prior estimate at 3.2%.
      • The GDP Price Index  is set to remain at 1.7%.
      • Core Personal Consumption Expenditures is expected at 2.1%.
    • This week’s Jobless Claims:
      • Initial Claims are expected to come out at 215,000, a touch higher from last week’s 210,000.
      • Continuing Claims should remain stable at 1.807 million.
  • The Chicago Purchasing Manager Index for March is expected to head from 44 to 46 at 13:45 GMT.
  • At 14:00 GMT, the final reading for the University of Michigan for March will come out:
  • Consumer Sentiment is expected to remain unchanged at 76.5.
  • Consumer Inflation expectations will remain stable as well at 2.9%.
  • The Kansas Fed Manufacturing Index for March will be released at 15:00 GMT, and was previously at 3. No forecast is available.
  • Equities are mildly in the green in the European trading session. US Equity futures look rather flat ahead of the opening bell. 
  • According to the CME Group’s FedWatch Tool, expectations for the Fed’s May 1 meeting are at 94.8% for keeping the fed funds rate unchanged, while chances of a rate cut are at 5.2%.
  • The benchmark 10-year US Treasury Note trades around 4.21%, up from 4.18% earlier this week. 


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