Morning, Traders!
It is Friday the 29th of September, here are some things to look out for today.
Sentiment
The dollar fell against all Group-of-10 currencies this morning as global markets recovered from earlier losses this week.
Treasuries rose alongside global peers.
The focus will be on August's personal income and spending data, as well as the core personal consumption expenditures price index, the Federal Reserve's preferred inflation gauge.
The White House has received guidance on how they will be affected by a government shutdown, the latest indication that preparations for the federal workforce are accelerating as a spending deal remains elusive ahead of the deadline on Sunday.
President of the Federal Reserve Bank of Richmond, Thomas Barkin, stated that policymakers have time to determine whether they need to do more to reduce inflation, and that the labor market may provide some insight.
Docket
08:30 AM ET
US PCE Price Index for August
YoY - Median Forecast: 3.5% | Prior: 3.3% | Range: 3.6% / 3.2%
MoM - Median Forecast: 0.5% | Prior: 0.2% | Range: 0.6% / 0.2%
Core YoY - Median Forecast: 3.9% | Prior: 4.2% | Range: 4% / 3.7%
Core MoM - Median Forecast: 0.2% | Prior: 0.2% | Range: 0.6% / 0%
US Consumer Spending for August
Median Forecast: 0.5% | Prior: 0.8% | Range: 0.9% / 0%
Canadian GDP MoM for July
Median Forecast: 0.1% | Prior: -0.2% | Range: 0.2% / -0.1%
10:00 AM ET
University of Michigan Data for September
Sentiment - Median Forecast: 67.7 | Prior: 67.7 | Range: 68.3 / 65.5
1 Year - Median Forecast: 3.2% | Prior: 3.1% | Range: 3.2% / 3.1%
5 Year - Median Forecast: 2.8% | Prior: 2.7% | Range: 2.8% / 2.7%
Speakers
12:45 PM ET
Fed's Williams does not attend, but releases text of a speech at the Long Island Association as part of a day-long visit to the region.
Text: Yes