Good Morning Traders! This Friday we get UK Retail Sales data.

Here is what to keep in mind.

Sentiment

Jerome Powell, the head of the Federal Reserve, said the US central bank is likely to hold interest rates constant again at its next meeting while keeping the door open to a future increase if decision-makers observe additional signals of sustained economic growth.

Despite rising long-term yields providing authorities more time to assess economic data, Federal Reserve Bank of Dallas President Lorie Logan said she is not yet confident that inflation is heading down to the central bank's 2% target.

The Bank of Japan's assessment that price pressure is peaking is supported by Japan's inflation rate falling below 3% for the first time in more than a year. This development may temper speculation about a short-term end to negative interest rates.

China's short-term policy loans provided the most liquidity into its banking system on record, indicating that policymakers will likely maintain low interest rates to support a fledgling economic recovery.

UK consumer confidence decreased to its lowest level since the coronavirus pandemic began as households struggling with rising prices and interest rates.

Docket

02:00 AM ET
UK Retail Sales YoY
Median Forecast -0.2% | Prior -1.4% | Range 0.6%/-0.7%

UK Retail Sales MoM
Median Forecast -0.4% | Prior 0.4% | Range 0.4%/-1.0%

UK Core Retail Sales MoM
Median Forecast -0.4% | Prior 0.6% | Range 0.5%/1.6%

Earnings

07:00 AM ET
American Express Q3 2023 Earnings
EPS $2.95| Est. Rev  $15.33B

 

Good Luck Today Traders!


Ben
Ben