Thursday preview: US data, Fedspeak in focus

The market spotlight on Thursday was expected to continue to be on US and the Federal Reserve.

Due out at 1330 GMT were two economic indicators with the potential to trigger large moves in the prices of of financial securities, the weekly unemployment claims numbers and the Philly Fed's monthly factory index.

Nonetheless, some economists were expecting the former to continue to be distorted due to problems with seasonally adjusting the data around the Christmas holidays.

And following hawkish remarks from Fed chief, James Bullard, the day before, investors would likely be paying close attention to speeches from the Boston and NY Fed presidents, as well as from Fed vice-chair Lael Brainard, later in the day.

As an aside, in December the US Census Bureau reported that migration patterns appeared to be returning to their pre-pandemic levels.

In a recent speech, Fed chief Jerome Powell had cited the plunge in net immigration during the pandemic as one of the factors exerting upwards pressure on wages, together with Covid related deaths and, above all, early retirements.

With the opposite implications, some analysts were anticipating a recovery in oil prices back closer towards the $100 a barrel level.

The European Central Bank might also be in the spotlight with both its President, Christine Lagarde, and governing council member, Isabel Schnabel due to take to the podium.

Against that backdrop, Norway's central bank was expected by the consensus to stay put on rates, although economists at Barclays Research were anticipating a 25 basis point hike to 3.0%.

On home shores meanwhile, overnight the Royal Institute of Chartered Surveyors would release its UK house price balance for December.

In Asia, central bankers in Indonesia and Malaysia were expected to announce 25 basis point interest rate hikes following their latest policymakers.

Thursday 19 January

INTERIMS

Frontier Developments, Ilika

Q2

Dunelm Group

Q4

Centamin (DI)

TRADING ANNOUNCEMENTS

Dunelm Group, PensionBee Group, Network International Holdings, Boohoo Group, Sage Group, Premier Foods, Energean, W.A.G Payment Solutions

AGMs

Botswana Diamonds, Scotgold Resources (DI)

FINAL EX-DIVIDEND DATE

Dewhurst Group 'A'NON.VTG, Catalyst Media Group, Dewhurst Group, Keystone Positive Change Investment Trust, Gooch & Housego, Compass Group, Cardiff Property, Victrex plc, Diploma, Future, AJ Bell

INTERIM EX-DIVIDEND DATE

Abrdn Asian Income Fund Limited NPV, Twentyfour Income Fund Limited Ord Red, Invesco Select Trust Glbl Eqty Inc Shs, Games Workshop Group, Hansa Investment Company Limited (DI), Invesco Select Trust UK Equity Shares, TwentyFour Select Monthly Income Fund Limited, Hansa Investment Company Limited 'A' Non Vtg (DI), Caspian Sunrise, Montanaro UK Smaller Companies Inv Trust, I3 Energy, Appreciate Group, NB Private Equity Partners Ltd., Industrials Reit Limited, Invesco Bond Income Plus Limited NPV, TPXimpact Holdings, Balanced Commercial Property Trust Limited

INTERIM DIVIDEND PAYMENT DATE

Alliance Pharma, Sirius Real Estate Ltd.

QUARTERLY EX-DIVIDEND DATE

Supermarket Income Reit, JpMorgan China Growth & Income, M Winkworth, JPMorgan Japan Small Cap Growth & Income

QUARTERLY PAYMENT DATE

Aberdeen Diversified Income and Growth Trust

UK ECONOMIC ANNOUNCEMENTS

RICS Housing Market Survey (00:01)

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Current Account (EU) (09:00)

Consumer Price Index (10:00)

Initial Jobless Claims (US) (13:30)

Philadelphia Fed Index (US) (13:30)