Morning, Traders!
It is Wednesday the 6th of December, here are some things to look out for today.
Sentiment
US equities were poised for modest gains today as a weakening labour market boosted bets that the Federal Reserve is done with interest-rate hikes and could shift to monetary easing sooner. US mortgage rates fell to the lowest level in almost four months last week, spurring the most refinancing demand since February. It is anticipated that the Bank of Canada would maintain interest rates as policymakers look for a neutral manner to declare that their rate increases have been sufficient.
Docket
08:15 ET
US ADP Employment Change for November
Median Forecast: 130K | Prior: 113K | Range: 200K / 83K
08:30 ET
US Trade Balance for October
Median Forecast: -$64.2 bln | Prior: -$61.5 bln | Range: -$59.5 bln / -$67 bln
10:00 ET
BoC Rate Decision
Median forecasts expect no change at 5%, for the fourth consecutive meeting.
BoC Rate Statement
10:30 ET
Weekly EIA Crude Oil Inventories
Median Forecast: -0.636M | Prior: 1.61M | Range: 2M / -3M
Good luck!
