This article originally appeared on FXStreet.
What you need to know before markets open
Contradicting headlines hit the wires on Thursday regarding the UK’s position on remaining or leaving the customs union with EU after Brexit. While House of Lords claims customs union is must for UK businesses, the official position of UK government remains intact leaving the customs union after Brexit.
The US Treasury yields keep on rocking with the benchmark 10-year Treasury yield rising to fresh highs of above 3.11 percent in support of the US Dollar.
Weekly labor market data and the set of Federal Reserve officials headline the North American session.
Thursday's upcoming market moving events
ECB Vice President Vítor Constâncio is delivering closing remarks at the Colloquium in his honor organized by the ECB in Frankfurt at 10:30 GMT.
ECB Vice President Vítor Constâncio is due to speak at the third annual ECB macroprudential policy and research conference, organized by ECB in Frankfurt at 12:00 GMT.
The US initial jobless claims are expected to reach 215K in the week ending May 11.
Philadelphia Fed survey is seen decelerating to 21.0 in May.
Minneapolis Federal Reserve Bank President Neel Kashkari is scheduled to participate in a moderated discussion with the executive director of the Minnesota Home Ownership Center at 14:45 GMT.
The Bank of England chief economist Andrew Haldane is scheduled to deliver closing remarks at the Economic Statistics Centre of Excellence Conference on Economic Measurement, in London at 16:00 GMT.
Dallas Federal Reserve Bank President Robert Kaplan is expected to participate in a moderated discussion at the Richardson Chamber of Commerce in Richardson, Texas at 17:30 GMT.
Major market themes
Improving headlines regarding the UK’s position on the customs union with EU after Brexit supported Sterling overnight with currency losing the shine as the hardline approach to customs union reemerged.
The benchmark US Treasury yield rose above 3.11 percent on Thursday in massive support of the US Dollar that has spilled over to US Dollar strength against Japanese Yen.
Earlier in Asia/Europe
The Bank of Greece said ECB lowered the emergency liquidity assistance for Greek banks by 2.5 billion EUR to 12.2 billion EUR.
The Eurozone construction output fell -0.3 percent m/m in March after falling -0.7 percent in February coming out below market forecast.
The sources said the UK Prime Minister Theresa May denied the newspapers report on the UK remaining part of the customs union with EU after Brexit.