Good Morning Traders!
It is Tuesday the 22nd of August and here is what to look out for today.
Sentiment
While the dollar fell against all of the Group of 10 peers, Treasuries rose, ending a selloff that had raised benchmark rates to 16-year highs. In an effort to choke off short positions, China is stepping up its defence of the yuan by raising funding fees in the offshore market and establishing a new record with its stronger-than-anticipated reference rate for the currency. Policymakers at the Federal Reserve are less in agreement than they were previously over the path that US interest rates would take.
Docket
10:00 AM ET
US Existing Home Sales for July
Existing - Median Forecast: 4.15M | Prior: 4.16M| Range: 4.22M / 4M
Change - Median Forecast: -0.2% | Prior: -3.3%| Range: 1.5% / -3.9%
Speakers
14:30 PM ET
Fed's Goolsbee gives welcome remarks at Fed Listens vent on youth employment.
15:30 PM ET
Feds Goolsbee & Fed's Bowman participate in a fireside chat at a Fed Listens event on youth unemployment in Chicago.
