Good Morning Traders!
It is Wednesday 12th of July, Today we get US Inflation data as well as BoC Rate decision, here are some things to look out for.
Sentiment
Four of the Federal Reserve's twelve regional banks sought a quarter-point increase in the discount rate in June, while the remaining outposts supported the decision to leave the rate unchanged last month.
According to economists, slowing US inflation data due Wednesday will mark a potential turning point for policymakers in the coming months as the Fed pushes to bring price increases back to its 2% target.
According to data from market research firm Deloitte, parents are expected to cut back-to-school spending by 10% per child this year, the first decrease in nearly a decade, as inflation catches up with the second-largest shopping season.
The Bank of Canada is expected to raise interest rates for the second time in a row, bringing borrowing costs to levels not seen in 22 years.
Docket
08:30 AM ET
US CPI YoY - Median Forecast 3.1% | Prior 4% | Range 3.3%/2.8%
CPI MoM - Median Forecast 0.3% | Prior 0.1% | Range 0.4%/0.1%
US Core CPI YoY - Median Forecast 5% | Prior 5.3% | Range 5.1%/4.8%
Core CPI MoM - Median Forecast 0.3% | Prior 0.4% | Range 0.4%/0.2%
Want prep ahead of CPI? Read Here
10:00 AM ET
BoC Rate Decision - Median Forecast 25 bps Hike to 5% | Prior 4.75%
Want prep ahead of BoC Rate decision? Read Here
10:30 AM ET
EIA Crude Oil Inventories - Median Forecast -2M | Prior -1.508M| Range 3M/-3.149M
1:00 PM ET
US sells $32 bln of 10-Year Notes
2:00 PM ET
Fed's Beige Book
Speakers
08:30 AM ET
Fed's Barkin Speaks
09:00 AM ET
ECB's Vujcic Speaks
09:45 AM ET
Fed's Kashari Speaks
ECB's Lane Speaks
11:00 AM ET
BoC Press Conference w/ Macklem
1:00 PM ET
Fed's Bostic Speaks
4:00 PM ET
Fed's Mester Speaks
Good Luck Today Traders!
