US: Trade balance and Q4 GDP releases to garner attention - TDS

According to the analysts at TDS, the US Q4 GDP is expected to be revised higher in its first revision, with TD calling for an annualized 2.2% q/q due to stronger PCE and net exports.

Key Quotes

“Markets are slightly less upbeat and look for an upward revision to 2.1% from the initial 1.9%. Advance goods trade for January will be released simultaneously and markets look for a widening of the goods deficit to $66bn from $64.4bn.”

“February Chicago PMI and consumer confidence will hit the wires later in the afternoon; the market consensus is for the PMI to strengthen to 53.5 from 50.3 while consumer confidence is projected to pull back modestly to 111.0 from 111.8. There are also three Fed presidents on the docket with Harker, Williams and Bullard scheduled to speak in the afternoon; Harker is the only voter of the three.”