Morning, Traders!
It is Thursday the 31st of August, here are some things to look out for today.
Sentiment
This morning, the US dollar outperformed the euro after weaker US data was interpreted as indicating a soft landing, which could aid the Federal Reserve in reversing its rate-hiking path. In Europe, the acceleration of inflation in some countries has raised fears of stagflation.
According to yesterday's release of the revised Q2 GDP numbers, the US economy made less progress than expected in the fourth quarter, while data showed that employment growth was slowing.
Docket
8:30 AM ET
US PCE Price Index for July
YoY - Median Forecast: 3.3% | Prior: 3% | Range: 3.4% / 3.2%
MoM - Median Forecast: 0.2% | Prior: 0.2% | Range: 0.3% / 0.1%
Core YoY - Median Forecast: 4.2% | Prior: 4.1% | Range: 4.3% / 4.2%
Core MoM - Median Forecast: 0.2% | Prior: 0.2% | Range: 0.3% / 0.1%
US Consumer Spending for July
Median Forecast: 0.7% | Prior: 0.5% | Range: 0.8% / 0.3%
US Weekly Jobless Claims
Initial Claims - Median Forecast: 235K | Prior: 230K | Range: 248K / 225K
Continued Claims - Median Forecast: 1.706M | Prior: 1.702M | Range: 1.73M / 1.69M
11:30 AM ET
US sells $80 bln 4-Week Bills
Speakers
9:00 AM ET
Fed's Collins speaks on the role community colleges play in the nation’s essential development of its people and workforce. Virtual. Embargoed Text: Yes.
Livestream: No.
Media Q&A: No.
12:00 PM ET
ECB Executive Board member de Guindos speaks at a seminar organized by Universidad Internacional Menéndez Pelayo in Santander, Spain.
Good luck!
