Good Morning Traders!
Today is Friday the 19th of May and here are some things to look out for.
Sentiment
The dollar was poised for its second straight week of gains this morning, buoyed by speculation that the Federal Reserve will raise interest rates next month.
US Treasuries rose, snapping a five-day losing streak, as investors await Fed Chairman Jerome Powell's comments later in the day for more guidance on the rate outlook.
President Joe Biden urged his negotiators to keep working on a debt-limit agreement after House Speaker McCarthy said both sides could reach an agreement as soon as this weekend to avoid a catastrophic US default.
Borrowing from the Federal Reserve's backstop liquidity facilities increased last week, with loans outstanding from one of them reaching a new high, as financial stresses continued to linger in the banking system.
Docket
08:30 AM ET
Canadian Retail Sales MoM for March
Median Forecast -1.4%| Prior -0.2%| Range -0.3%/-1.5%
Speakers
08:45 AM ET
Fed's Williams delivers a keynote address at a monetary policy research conference hosted by the Fed in Washington that commemorates the legacy of economist Thomas Laubach. Text and Q&A are expected.
09:00 AM ET
Fed's Bowman takes part in a discussion at the Texas Bankers Association Annual Convention in San Antonio, TX. Text and Q&A are expected.
09:55 AM ET
ECB's Schnabel gives a speech at Conference on Financial Stability and Monetary Policy in honor of Charles Goodhart in London.
11:00 AM ET
Fed's Powell takes part in a panel discussion during a monetary policy research conference hosted by the Fed in Washington that commemorates the legacy of economist Thomas Laubach.
ECB's Schnabel participates in a policy panel at Conference on Financial Stability and Monetary Policy in honor of Charles Goodhart in London.
15:00 PM ET
ECB's Lagarde & ECB's de Cos take part in a discussion about post-pandemic challenges: high inflation, high indebtedness, and financial stability.
Good luck!
