Good morning, Traders!
It is Wednesday 15th of March, Today we get US PPI and Retail sales, But here are some other things to look out for.
Sentiment
This morning, the dollar and government bonds rise as new turmoil at Credit Suisse Group roils markets. The bank's largest shareholder has ruled out further investment because a larger stake would result in additional regulatory hurdles.
Jeremy Hunt, the UK Chancellor of the Exchequer, will present his budget for the new fiscal year later today.
According to a person familiar with the situation, the Federal Reserve is considering changes to its oversight of midsized banks in light of the failure of three lenders in the last week.
The big question for the Fed now that Silicon Valley Bank has failed is whether the banking sector turmoil will slow activity and, more importantly, inflation. Some analysts believe that if the answer is yes, the Fed may not need to raise rates much further to reduce inflation.
Docket
8:15 AM ET
Canadian House Starts data for February
Median Forecast 220K | Prior 215.4K | Range 240K/199.5K
8:30 AM ET
US PPI data for February
YoY - Median Forecast 5.4%| Prior 6% | Range 5.6%/5%
MoM - Median Forecast 0.3% | Prior 0.7% | Range 0.6%/-0.1%
US Retail Sales MoM data for February
Median Forecast -0.4% | Prior 3% | Range 0.6%/-1.2%
10:30 AM ET
EIA Crude Oil Inventories - Median Forecast 1.5M | Prior -1.694M | Range 3.5M/-3M
Speakers
8:30 AM ET
UK's Chancellor Hunt Delivers his annual budget to parliament
Good Luck Today!
