Morning, Traders!
It is Friday the 3rd of March, here are some things to look out for today.
Sentiment
As investors pared bets on central-bank tightening, the dollar index fell this morning, and European bonds rose alongside Treasuries.
European stocks rose for a second day, and US equity futures rose as demand for risk assets increased.
China's services sector reported better-than-expected economic data.
Two Federal Reserve policymakers yesterday warned that recent stronger-than-expected readings on the US economy may prompt them to raise interest rates more aggressively than previously anticipated.
According to economists, the Bank of Canada next week will maintain current interest rates even as the US Federal Reserve raises borrowing costs.
An ECB official stated that market bets on a 4% interest rate peak may be correct if underlying inflation pressures do not abate quickly enough.
Docket
9:45 AM ET
US S&P Services PMI February Final
Median Forecast 50.5 | Prior 50.5 | Range 50.8/50.5
10:00 AM ET
US ISM Services PMI Data for February
Median Forecast 54.5 | Prior 55.2 | Range 56.6/52.4
Speakers
11:00 AM ET
Fed's Logan Speaks - Making opening remarks at an event on market dysfunction hosted by the Chicago university booth school of business.
(Text: Yes. Q&A: No)
1200 PM ET
Fed's Bostic Speaks - Giving welcoming remarks via recorded video at a conference on racial inequality.
(Text: No. Q&A: No, note, the event is virtual)
3:00 PM ET
Fed's Bowman speaks - Sharing a panel on design issues for central bank facilities during an event on market dysfunction hosted by the Chicago University booth school of business.
(Text: Yes. Q&A: Yes, from Moderator)
4:45 PM ET
Fed's Barkin Speaks - Speaking on "what's keeping inflation elevated?" at the SIEPR 2023 Economic Summit.
Good Luck Today!
