Good Morning Traders!
It is Wednesday the 23rd of August and here is what to look out for today.
Sentiment
Two of the Federal Reserve's 12 regional banks wanted to keep the discount rate unchanged in July, while the other outposts favoured raising it by 25 basis points. Traders are lowering their expectations for the Fed to cut interest rates. The swaps market now has around 100 basis points of easing priced in through next year, down from more than 150 a few weeks ago.
Docket
08:30 AM ET
Canadian Retail Sales for June
MoM - Median Forecast: 0% | Prior: 0.2%| Range: 0.2% / -1%
Core MoM - Median Forecast: 0.3% | Prior: 0% | Range: 0.9% / -0.7%
09:45 AM ET
US S&P PMI Flash
Manufacturing - Median Forecast: 49 | Prior: 49| Range: 50 / 47.5
Services - Median Forecast: 52 | Prior: 52.3| Range: 54 / 51.5
Composite - Median Forecast: 51.5 | Prior: 52| Range: 53.1 / 51.5
10:00 AM ET
Eurozone Consumer Confidence Flash for August
Median Forecast: -14.5 | Prior: -15.1| Range: -13 / -15
US New Home Sales - Units for July
Median Forecast: 704K | Prior: 697K| Range: 730K / 670K
10:30 AM ET
Weekly EIA Inventories
Crude - Median Forecast: -3M | Prior: -5.96M | Range: -2.392M / -3M
13:00 PM ET
US Sells $16 bln in 20-Year Bond Auction
Earnings
16:20 PM ET
NVIDIA Q2 2023 Earnings
Est. EPS: $2.07 Est. Sales: $11.04 bln
