Morning, Traders!
It is Wednesday the 29th of November, here are some things to look out for today.
Sentiment
The dollar traded near its weakest level in more than three months, reflecting the growing belief that the Federal Reserve will begin cutting interest rates in the United States next year.
Treasuries rose, with the 10-year yield falling to its lowest level in more than two months.
Investors are looking for more clues into the outlook for US rates in the Fed's Beige Book and a speech by Cleveland Fed President Mester later in the day.
The world's advanced economies are entering a deepening slowdown as significantly higher interest rates take a heavy toll on activity that could worsen, according to the OECD.
The second print for US third-quarter GDP is due soon, with economists expecting a small upward revision to 5%. There will also be data on personal spending and a closely watched measure of underlying inflation.
Docket
08:30 ET
US GDP QoQ 2nd Estimate for Q3
Median Forecast: 5% | Prior: 4.9% | Range: 5.3% / 4.8%
10:30 ET
Weekly EIA Crude Oil Inventories
Median Forecast: -1.7M | Prior: 8.7M | Range: 4.219M / -3M
14:00 ET
Fed's Beige Book
Speakers
10:05 ET
Bank of England Governor Bailey delivers remarks at the 50-year anniversary of the London Foreign Exchange Joint Standing Committee.
10:15 ET
Bank of England's Hauser remarks at the 50-year anniversary of the London Foreign Exchange Joint Standing Committee.
13:45 ET
Cleveland Fed President Mester speaks on financial stability at the George G. Kaufman Center for Financial Policy Studies Policy Conference 2023 at Loyola University.
Text: Yes.
Q&A: Yes, with the audience.
Register Here
Good luck!
