Morning, Traders. Happy Friday!
It is the 16th of December, and today caps off a volatile week, full of lots of important economic data points for the US.
Here are some things to look out for today:
The Federal Reserve's updated economic projections this week appeared to include an unusual assumption: At the end of this year, inflation would resurface.
The S&P Global US purchasing managers index is expected to continue contracting, with economists predicting a slight increase to 46.9 in December from 46.4 the previous month.
This week, major central banks signaled their willingness to accept a global recession in 2023, promising to raise borrowing costs further in their ongoing battle against sky-high inflation.
Canadian Wholesale Sales MoM for October - Median Forecast: 1.3% | Range: 1.3% / 0.9% | Prior: 0.1%
US S&P PMI Flash (Prelim) Reads for December
Manufacturing - Median Forecast: 47.8 | Range: 48.5 / 47.4 | Prior: 47.7
Services - Median Forecast: 46.5 | Range: 47 / 45.5 | Prior 46.2
Composite - Median Forecast 46.9 | Range: 47.8 / 46 | Prior: 46.4
San Francisco Fed President Daly discusses inflation, the economy, and the Federal Reserve during a moderated conversation hosted by the American Enterprise institute.
No text is expected to be released, but there will be a Q&A with the audience.
Good luck! Have a great weekend