Good Morning Traders
It is Tuesday the 21st of November, here is what to look out for today.
Sentiment
In anticipation of the FOMC minutes, which traders believe will signal the end of the Federal Reserve's hike cycle, the Dollar dropped for a fourth day as Treasuries rose, driving down rates.
According to analysts, the minutes of the FOMC meeting on Oct. 31st-Nov. 1st will give insight into why the committee's policy statement and Fed Chair Powell's remarks were somewhat dovish, despite solid economic indicators leading up to the gathering.
Treasury investors are growing increasingly pessimistic that the Federal Reserve will give a soft landing for the US economy next year, raising fears of a looming recession due to inflation and a growing fiscal deficit.
Docket
08:30 ET
Canadian CPI for October
YoY - Median Forecast: 3.1% | Prior: 3.8% | Range: 3.3% / 3%
MoM - Median Forecast: 0.1% | Prior: -0.1% | Range: 0.3% / 0.1%%
10:00 ET
US Exisitng Home Sales for October
Exisitng Sales - Median Forecast: 3.9M | Prior: 3.96M | Range: 4M / 3.78M
Exisitng Sales Change - Median Forecast: -1.5% | Prior: -2% | Range: 1% / -4.6%
13:00 ET
US Sells $15 Bln in 10-Year TIPS at Auction
14:00 ET
FOMC Meeting Minutes
Speakers
08:45 ET
ECB's McCaul participates in a panel at Financial and Regulatory Outlook Conference 2023: The New Monetary Order.
11:00 ET
ECB's Lagarde gives a speech at the high-level public discussion "Inflation kills democracy" on the occasion of the 100th anniversary of the currency reform in Germany in 1923.
12:00 ET
ECB's Schnabel gives a lecture at the International Economic Policy Lecture conference organised by University of Würzburg.
12:35 ET
ECB's Centeno speaks about ' 'Fiscal Policy vs Monetary Policy" at a conference in Oporto, northern Portugal.
Earnings
16:20 ET
NVIDIA Q3 2023 Earnings
Est. EPS $3.37
Est. Rev $16.09B
Good luck!
