Morning, Traders!
Happy Friday! It is the 22nd of September, here are some things to look out for today.
Sentiment
Although the Bank of Japan maintained its monetary settings and gave no overt indication of a change in its policy position, the yen experienced the most losses among the currencies in the Group of 10.
The euro was on track to see its eleventh straight week of depreciation while the pound's losses on Thursday were extended.
The benchmark bond yields for the US and Germany dropped from their day-ago highs.
While party legislators battle to reach consensus on how much spending has to be slashed and how to explain their brinkmanship to the public, House Republicans are speeding towards a US government shutdown in less than 10 days.
Although they disagreed on what should be done next, two former Federal Reserve policymakers concurred that the US central bank is unlikely to achieve a soft landing of the economy.
When S&P Global releases its manufacturing and services figures for September later this morning, the overall reading is anticipated to indicate a small acceleration in growth.
Docket
8:30 AM ET
Canadian Retail Sales MoM for July
Median Forecast: 0.4% | Prior: 0.1% | Range: 0.5% / 0.2%
9:45 AM ET
US S&P PMI September Flash
Manufacturing - Median Forecast: 48.2 | Prior: 47.9 | Range: 49 / 47.1
Services - Median Forecast: 50.7 | Prior: 50.5 | Range: 52.5 / 50
Speakers
8:50 AM ET
Fed's Cook gives a keynote address at the National Bureau of Economic Research's Economics of Artificial Intelligence Conference.
Text: Yes.
Q&A: No.
1:00 PM ET
Fed's Daly will join Greater Phoenix Leadership for a fireside chat to discuss inflation, monetary policy, and the economy.
The conversation will be live-streamed and made available as a recording after the event.
Fed's Kashkari will participate in a fireside chat with Best Buy CEO Corie Barry, hosted by the Economic Club of Minnesota.
Media Q&A: No.
Audience Q&A: Yes
Livestream available: Yes, minneapolisfed.org/live
Good luck!
