Good morning, Traders!
It is Tuesday the 8th of August. Here are some things to look out for today.
Concerns about China's economic outlook, as well as signs that Beijing may be loosening its grip on the yuan, boosted demand for the greenback against all G-10 peers.
The market will be looking for clues on the Fed's rate path in an upcoming speech by Philadelphia Fed President Harker and US data on business optimism.
The euro fell after a report revealed that consumer expectations for regional inflation fell further in June.
According to a new study, US chipmakers are struggling to fill key positions, as a skilled labour shortage threatens to stymie efforts to revitalise the domestic industry.
Consumer borrowing in the United States increased more than expected in June, with the largest increase in non-revolving credit in eight months.
08:30 AM ET
US Trade Balance for June
Median Forecast: -$65B | Prior: -$69B | Range: -$62.8B / -$71B
Canadian Trade Balance
Median Forecast: -2.79B | Prior: -3.44B | Range: -2B / -4B
10:00 AM ET
US Wholesale Inventories MoM June Revised
Median Forecast: -0.3% | Prior: -0.3% | Range: -0.3% / -0.3%
11:00 AM ET
New York Fed Q2 Household Credit Report
11:30 AM ET
US sells $40 bln 52-Week Bills
12:00 PM ET
EIA Short-Term Energy Outlook Report
13:00 PM ET
US sells $42 bln 3-Year Notes
08:15 AM ET
Fed's Harker speaks on the economic outlook at an event hosted by the Philadelphia Business Journal.
Both text and Q&A are expected.
08:30 AM ET
Fed's Barkin speaks to the Loudoun County Chamber of Commerce in a talk entitled “Recession Revisited.”
There will be no media coverage but a Q&A with the audience is expected.