Thursday: Unemployment Claims, Trade Balance, Fed Chair Powell, Flow of Funds

Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios.

Thursday:
• At 8:30 AM ET, The initial weekly unemployment claims report will be released.  The consensus is for 220 thousand initial claims, up from 216 thousand last week.

• At 8:30 AM, Trade Balance report for January from the Census Bureau. The consensus is the trade deficit to be $61.7 billion.  The U.S. trade deficit was at $62.2 billion in December.

• At 10:00 AM, Testimony, Fed Chair Jerome Powell, Semiannual Monetary Policy Report to the Congress, Before the U.S. Senate Committee on Banking, Housing, and Urban Affairs

• At 12:00 PM, Q4 Flow of Funds Accounts of the United States from the Federal Reserve.