Good Morning, Traders!
It is Thursday the 30th of November, here are some things to look out for today.
Sentiment
The dollar rose, aided by a drop in the euro following a weaker-than-expected reading of Eurozone CPI, which raised speculation of an early interest rate cut by the European Central Bank next year.
US Treasuries fell after an upward revision to USD Q3 GDP highlighted the US economy's ongoing resilience.
Investors were waiting for data on the PCE deflator, which was due later in the day, to get a better sense of the Federal Reserve's outlook for possible rate cuts next year.
The Federal Reserve said in its Beige Book, their survey of regional business contacts, that US economic activity has slowed in recent weeks as consumers cut back on discretionary spending.
Yesterday, Fed's Mester indicated that she would support keeping interest rates steady at the central bank's December meeting.
Docket
08:30 ET
US PCE Price Index for October
YoY - Median Forecast: 3% | Prior: 3.4% | Range: 3.1% / 3.0%
MoM - Median Forecast: 0.1% | Prior: 0.4% | Range: 0.2% / 0%
Core YoY - Median Forecast: 3.5% | Prior: 3.7% | Range: 4% / 3.4%
Core MoM - Median Forecast: 0.2% | Prior: 0.3% | Range: 0.3% / 0%
Weekly Jobless Claims
Initial - Median Forecast: 218K | Prior: 209K | Range: 235K / 205K
Continued - Median Forecast: 1.865M | Prior: 1.84M | Range: 1.92M / 1.842M
Canadian GDP for September
QoQ Annualised - Median Forecast: 0.1% | Prior: -0.2% | Range: 0.5% / -0.5%
MoM - Median Forecast: 0% | Prior: 0% | Range: 0.1% / 0%
11:30 ET
US sells $80 bln in 4-Week Bills at Auction
Speakers
Links to watch live are in the Financial Juice calendar.
08:30 ET
ECB's Lagarde speaks at 5th ECB Forum on Banking Supervision "Europe: banking on resilience" in Frankfurt, Germany
09:05 ET
Fed's Williams speaks on innovations in central banking at an event hosted by the Bretton Woods Committee and New York Fed. Both text and Q&A are expected.
09:15 ET
ECB's McCaul speaks at 5th ECB Forum on Banking Supervision "Europe: banking on resilience" in Frankfurt, Germany
10:45 ET
ECB's Jochnik speaks at 5th ECB Forum on Banking Supervision "Europe: banking on resilience" in Frankfurt, Germany
11:00 ET
BoE's Greene gives a speech at Leeds University.
12:00 ET
ECB's Nagel speaks at the Annual reception, Association of German Pfandbrief Banks: “Monetary policy in times of multiple challenges”.
Good luck!
