Good Morning Traders!
It is Wednesday 10th of May, today we get the highly anticipated inflation print for the US, but here are some other things to look out for:

Sentiment

According to economists, CPI data for April will show that inflation remains a thorn in the Fed's side. Following the May FOMC meeting, at which the Fed signaled the possible end of the tightening cycle, the latest inflation data will provide little support for the notion that rates are sufficiently restrictive.

Biden and congressional Republicans made little tangible progress Tuesday towards averting the first-ever US default, but pledged spending talks that could lead to an agreement.

Some of Wall Street's most experienced traders warned of unthinkable long-term consequences of a US default, arguing that the debt limit should be permanently repealed.

Docket
08:30 AM ET
US CPI YoY for April - Median Forecast 5% | Prior 5% | Range 5.2%/4.7%
CPI MoM for April - Median Forecast 0.4% | Prior 0.1% | Range 0.5%/ 0.2%

Core CPI YoY - Median Forecast 5.5% | Prior 5.6% | Range 5.6%/ 5.3%
Core CPI MoM - Median Forecast 0.3% | Prior 0.4% | Range 0.5%/ 0.3%

10:30 AM ET
EIA Crude Oil Inventories - Median Forecast -2.5M | Prior -1.281M | Range 2.5M/-3M

1:00 PM ET
US sells $35 bln of 10-Year Notes

Speakers
09:30 AM ET
German Economy Min. Habeck Speaks 

10:00 AM ET
ECB's Centeno Speaks - Speaking on the Bank of Portugal's financial stability report.

12:00 PM ET
SNB's Chairman Jordan Speaks

2:30 PM ET
NZ's Finance Min. Robertson Speaks - Giving a speech at the Wellington Chamber of Commerce ahead of the budget. 

 

 

 

Drew Drew