Morning, Traders!
It is Wednesday the 6th of September, here is what to look out for today.
Sentiment
This morning, the dollar index held steady, clinging to Tuesday's 0.7% gain, after OPEC+ leaders reignited inflation fears by extending supply cuts through the end of the year.
With the yen and yuan facing a headwind from renewed dollar strength, authorities in Japan and China increased support for their currencies. Treasuries changed little.
According to analysts, the US economy has been performing so well recently that Federal Reserve officials will almost certainly need to double their projection for growth in 2023 when they release an updated outlook later this month.
Docket
8:30 AM ET
US Trade Balance for July
Median Forecast: -$68 bln | Prior: -$65.5 bln | Range: -$65.7 bln / -$69.2 bln
9:45 AM ET
US S&P Services PMI August Final
Median Forecast: 51 | Prior: 51 | Range: 52 / 51
10:00 AM ET
Bank of Canada Rate Decision & Rate Statement
Median Forecast sees no change at 5%
US ISM Services PMI for August
Median Forecast: 52.5 | Prior: 52.7 | Range: 53.9 / 51.2
2:00 PM ET
Fed's Beige Book
A report published eight times a year that provides anecdotal information on economic conditions across various regions of the United States.
Speakers
8:30 AM ET
Fed's Collins speaks at the New England Council on the economy and policymaking in Boston.
Embargoed Text: Yes.
Livestream: No.
Open to media: Yes.
Media Q&A: No.
9:15 AM ET
Bank of England Governor Bailey and his colleagues Cunliffe, Dhingra, and Stheeman testify to the Treasury Committee in Parliament about their latest interest rate decision and economic forecasts.
3:00 PM ET
Fed's Logan takes part in a community listening session to explore economic issues facing the Lubbock area.
3:30 PM ET
RBNZ Deputy Governor Hawkesby makes a speech titled: Towards good governance in the financial system of Aotearoa
Good luck!
