Good Morning Traders! This Monday we get German Industrial Orders data.
Here is what to expect from today.
Sentiment
US congressional leaders reached an agreement on top-line spending for the current fiscal year, reducing the likelihood of a partial government shutdown on January 20.
Lorie Logan, President of the Federal Reserve Bank of Dallas, stated that the US central bank may need to moderate the speed at which it reduces its asset portfolio due to reduced liquidity in financial markets.
Traders betting on a bond rally in 2024 are unconcerned by the recent drop, viewing it as an opportunity to take advantage of elevated yields before the Federal Reserve begins bringing down interest rates.
As China's real estate market deteriorates. President Xi Jinping must alter the country's economic model in order to generate growth over the next decade. His government's solution risks triggering a new wave of global trade hostilities.
Oil prices held steady following a weekly rise as Red Sea tensions and supply interruptions in Libya countered signs of market weakness, including Saudi Arabia lowering selling prices to customers in all areas.
Docket
02:00 AM ET
German Industrial Orders MoM
Median Forecast 1.1% | Prior -3.7% | Range 3.3%/-1.0%
Good Luck today, Traders!