Good Morning Traders!
Today is Wednesday the 16th of August and here is what to look out for today.
Treasuries rise on dip buying, with the 10-year breaking a four-day losing streak. The dollar fell slightly and underperformed its group of ten peers. Investors will be looking for clues on the path of interest rates in the minutes from the Federal Reserve's July meeting.
According to analysts, the record of the Federal Reserve's July policy meeting will show that only a minority of officials favoured keeping interest rates steady for the rest of the year.
The uncapped incentives of President Biden's Inflation Reduction Act, which he signed one year ago, mean that spending spurred by the historic US climate law could triple initial estimates and exceed $1 trillion.
08:15 AM ET
Canadian House Starts, Annualized
Median Forecast: 244K | Prior: 281.4K | Range: 265K / 220K
08:30 AM ET
US Real Estate Data
Housing Starts - Median Forecast: 1.45M | Prior: 1.434M | Range: 1.51M / 1.36M
Building Permits - Median Forecast: 1.468M | Prior: 1.44M | Range: 1.527M / 1.43M
Canadian Wholesale Sales MoM
Median Forecast: -4.4% | Prior: 3.5% | Range: -1% / -4.4%
09:15 AM ET
US Industrial Production MoM
Median Forecast: 0.3% | Prior: -0.5% | Range: 1% / -0.5%
US Capacity Utilization
Median Forecast: 79.1% | Prior: 78.9% | Range: 79.6% / 78.4%
10:30 AM ET
Crude Oil - Median Forecast: -1M | Prior: 5.851M | Range: -1M/-3.7M
14:00 PM ET
FOMC Meeting Minutes
16:10 PM ET
RBNZ Govenor Orr speaks at the Finance & Expenditure select committee on MPS.