Good Morning Traders!
It is Thursday 25th of May, today we get US GDP data.
Here are some other things to look out for.
Following hawkish remarks by a Federal Reserve official, the dollar edged up this morning on bets that US interest rates will continue to rise.
US Treasuries fell as more Fed officials spoke later in the day. Markets are looking for signs of progress in resolving the US debt ceiling crisis.
House Speaker McCarthy's optimism that White House and GOP negotiators would reach an agreement in time to avoid a potentially disastrous default did not calm analysts, who placed the US on a rating watch list.
Fed officials are leaning towards pausing interest-rate increases at their June meeting due to increased uncertainty about the outlook, but they haven't given up the fight against stubborn inflation.
08:30 AM ET
US GDP QoQ 2nd Estimate for Q1
Median Forecast 1.1% | Prior 1.1% | Range 1.4%/0.9%
US Weekly Initial Jobless Claims
Median Forecast 245K | Prior 242K | Range 260K/225K
US Core PCE Prices Prelim for Q1
Median Forecast 4.9% | Prior 4.9% | Range 4.9%/4.6%
11:30 AM ET
US Sells $35 bln of 4-Week Bills
1:00 PM ET
US Sells $35 bln of 7-Year Notes
9:30 AM ET
ECB's Centeno Speaks - Gives opening remarks at an event on 'investing and financing resilience and renewal in Europe'
9:50 AM ET
Fed's Barkin Speaks - Speaking at South West Virginia Economic Forum at the Uni. of Virginia (Text: TBD, Q&A: Yes, with moderator)
10:30 AM ET
Fed's Collins Speaks - Participating in a fireside chat at the community college of Rhode Island (Text: Yes, Q&A: Yes, with moderator and audience)
11:45 AM ET
ECB's de Cos Speaks - Speaking at the same event as ECB's Centeno
12:30 PM ET
BoE's Haskel Speaks - Delivering a Speech at the Petersons Institute for International Economics
Good luck today, Traders!