Good Morning Traders! This Friday we get the ECB Survey of Professional Forecasters.
Here is what to keep in mind.
Sentiment
October saw an unexpected acceleration of Tokyo's consumer price growth for the first time in four months, suggesting that inflation is sticking around longer than anticipated as the Bank of Japan gets ready to announce policy next week.
Despite a robust US economy, the Federal Reserve may need to boost interest rates further to combat persistent inflation, according to Pimco's Clarida.
Oil declined as the anticipated ground assault of Gaza by Israel was tempered by a decline in broader financial markets and lower real-world pricing.
One day after Governor Tiff Macklem and his team reduced the GDP projection, markets are beginning to accept that the Bank of Canada will have to start lowering rates by late next year.
The increase in longer-term bond yields in recent months, according to Treasury Secretary Janet Yellen, is a result of the robust US economy rather than a rise in government borrowing brought on by an expanding budget deficit.
Docket
04:00 AM ET
ECB Survey of Professional Forecasters
05:30 AM ET
Russian interest Rate
Median Forecast 14% | Prior 13%
Earnings
06:15 AM ET
Chevron Q3 2023 Earnings
EPS $3.71| Est. Rev $51.21B
06:30 AM ET
ExxonMobil Q3 2023 Earnings
EPS $2.36| Est. Rev $94.35B
Good Luck Today Traders!
