Morning, Traders!
It is Monday the 17th of July, and we have a quiet start to the week.
Here are some things to look out for today
Sentiment
On the belief that US interest rate increases will come to a halt in the upcoming months as inflation falls, US Treasuries continued last week's advances.
As markets continue to factor in the probability that the Federal Reserve's upcoming rate hike could be its final one, the dollar weakened and is now close to its weakest level in more than a year.
The dollar may continue to be under selling pressure ahead of next week's FOMC meeting due to this week's sparse economic data releases and Fed speakers.
Treasury Secretary Yellen stated that although it would be premature to lift the tariffs the Trump administration has put on China, the US should look for methods to further "de-escalate" tensions with that country.
Several economists revised downward their predictions for the year as a result of China's poor economic growth data, noting significant recovery difficulties and Beijing's relatively modest stimulus response.
Docket
8:30 AM ET
NY Fed Manufacturing for July
Median Forecast: -3.5 | Prior: 6.6 | Range: 5 / -10
11:30 AM ET
US sells 65 bln 3-Month Bills
US sells $58 bln 6-Month Bills
Speakers
08:15 AM ET
ECB's Elderson & Vujcic speak on a panel at the 9th ECB conference on central, eastern, and south-eastern European (CESEE) countries
Good luck!
