Good Morning Traders!
It is Tuesday the 18th of July, and here are some things to look out for today.
Sentiment
This morning, the dollar held steady and the S&P 500 held on to most of its gains from yesterday's rally, after traders pared back bets for continued Federal Reserve tightening amid falling inflation.
Among a slew of factors exerting disinflationary pressures, Treasury Secretary Yellen stated that a cooling - but not faltering - labor market is playing a key role in slowing US inflation.
The Biden administration's plans to limit Chinese investment will be narrowly focused on cutting-edge technology, only new investments, and will likely not go into effect until next year as the policy works its way through Washington's bureaucracy.
Docket
08:15 AM ET
Canadian House Starts, Annualized
Median Forecast: 220K | Prior: 202.5K | Range: 231.3K / 201K
08:30 AM ET
Canadian CPI for June
YoY - Median Forecast: 3% | Prior: 3.4% | Range: 3.1% / 2.9%
MoM - Median Forecast: 0.3% | Prior: 0.4% | Range: 0.4% / 0.2%
US Retail Sales MoM for June
Median Forecast: 0.5% | Prior: 0.3% | Range: 0.9% / 0.2%
09:15 AM ET
US Industrial Production MoM - Median Forecast: 0% | Prior: -0.2% | Range: 0.3% / -0.2%
US Capacity Utilization - Median Forecast: 79.5% | Prior: 79.6% | Range: 79.7% / 79.3%
10:00 AM ET
US Business Inventories MoM - Median Forecast: 0.2% | Prior: 0.2% | Range: 0.3% / 0.1%
US NAHB Housing Market Index - Median Forecast: 56 | Prior: 55 | Range: 58 / 54
Speakers
10:00 AM ET
Fed's Barr speaks on fair lending at the National Fair Housing Alliance 2023 National Conference.
Text: yes. Q&A: no.
Fed's Gibson testifies about climate change at a House Financial Services subcommittee.
Text: yes.
Good luck!
