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    US: Initial jobless claims to lead the economic releases pack today - TDS Sandeep Kanihama

    Research Team at TDS, suggests that the US initial jobless claims are projected to remain in their recent range between 265k-275k. Both TD and the wider market are expecting a 270k print, which should keep the 4-week moving average anchored at 269k.Key Quotes“A number of other lower-tier data releases will round out the calendar including updates from the Chicago and Kansas City regional Feds. TD expects the Kansas City Fed Index to decline further into contractionary territory in June, slipping from -5 to -10 (market: unchanged at -5) while the Chicago Fed Activity Index should improve slightly from 0.10 to 0.12 in May (market: 0.11).New home sales for May are expected by the market to pull back by 9.5% m/m after an outsized 16.6% monthly gain in April; TD is more optimistic and sees the pace of new homes sales declining by just 1.5% m/m.Lastly, advances in the Conference Board Leading Index should slow in May, reflecting a more modest pace of future growth as TD expects the index to gain 0.3% m/m May, down from 0.6% m/m last month (market: 0.1% m/m).”

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