US jobless claims to fall to 248k - TDS

Research Team at TDS, suggests that following last week’s dip in US jobless claims to 259k, TD looks for a further improvement and for the pace of claims to fall to 248k, matching the multi-decade low set in early April.

Key Quotes

“The market is not as constructive on this front and looks for claims to edge higher to 267k. Chicago PMI, the only other release for the day, should return to expansionary territory in June following a dip to 49.3 last month. TD expects the index to improve to 51.8 in June while the market looks for a more subdued increase to 51.0.”