Morning, Traders!
Today is Tuesday, November 29th, the week is just getting started but there are some important datapoints on the docket today. Here are some things to look out for
Sentiment
The unusually wide gap between the two main US inflation gauges (PCE and CPI) is expected to narrow in the coming months, giving Federal Reserve officials more leeway to pause interest-rate hikes in early 2023.
Fed policymakers emphasize that they will raise borrowing costs further in order to control inflation.
China is funding major projects all over the world, including some in the United States. China announced plans to increase vaccination rates among its senior citizens, a move seen by health experts as critical to reopening an economy trapped in a never-ending cycle of harsh COVID zero curbs.
However, it stopped short of announcing mandates that would have helped raise vaccination rates in other countries.
The United Nations warned that efforts to "friend-shore" manufacturing could weigh on a global trading system that, according to a new report, still faces transportation headwinds and inflationary pressures linked to Russia's war and the pandemic.
Docket
8:30 AM ET
Canadian GDP QoQ Annualized for the 3rd quarter: Median forecast 1.5%, Range 1.7% / 0.4%, Prior 3.3%
Canadian GDP MoM for September: Median forecast 0.1%. Range 0.2% / -0.1%, prior 0.1%
9:00 AM ET
US Case-Shiller 20 YoY for September (House Price data): Median forecast 10.5%, Range 11.8% / 9.6%, prior 13.08%
10:00 AM ET
US CB Consumer Confidence: Median forecast 100, Range 103.9 / 97.5, Prior 102.5
Speakers
8:30 AM ET
ECB's Schanbel
9:00 AM ET
ECB's de Cos speaks at the Senate Budget Committee.
10:00 AM ET
Bank of England's Governor Bailey testifies to the House of Lords.
SNB's Schlegel.
Good luck out there!