Good Morning Traders.
It is Wednesday the 11th of October and here is what to look out for today.
Sentiment
The dollar was little changed this morning, while Treasury yields tumbled as escalating tensions in the Middle East prompted safe-haven demand for US debt, even as a Federal Reserve official warned that interest rates may need to rise more and stay high to tackle inflation.
Markets await US PPI readings due later in the day, while investors will scrutinize additional Fed speeches along with minutes from the central bank’s last policy meeting for further clues on whether additional tightening may be needed.
Markets will be on watch for any dovish hints in minutes of the Federal Reserve’s September policy meeting that suggest it won’t follow through with the final 2023 rate hike indicated in the dot plot, according to newswire analysts.
The prospect that high-interest rates will keep constricting the global economy is worrying World Bank officials as they look to the impact on nations nursing large debts.
Docket
08:30 AM ET
US PPI for September
YoY - Median Forecast: 1.6% | Prior: 1.6% | Range: 2.2% / 1.4%
MoM - Median Forecast: 0.3% | Prior: 0.7% | Range: 0.6% / 0.1%
Core YoY - Median Forecast: 2.3% | Prior: 2.2% | Range: 2.3% / 1.9%
Core MoM - Median Forecast: 0.2% | Prior: 0.2% | Range: 0.3% / 0%
Canadian Building Permits MoM for August
Median Forecast: 1.2% | Prior: -1.5% | Range: 3.7% / -0.1%
12:00 PM ET
EIA Short-Term Energy Outlook Report
1:00 PM ET
US sells $35 bln in 10-Year Notes at Auction
2:00 PM ET
FOMC Meeting Minutes
Speakers
10:15 AM ET
Fed's Waller holds a fireside chat at the E2 Summit in Park City, Utah.
No text but there will be a Q&A.
11:15 AM ET
ECB's Villeroy speaks on a panel and delivers keynote address.
12:15 PM ET
Fed's BosticAtlanta Fed President Raphael Bostic speaks about economic conditions at the Metro Atlanta Chambers ATLeaders lunch.
No text but there will be a Q&A.
4:30 PM ET
Fed's Collins delivers the 2023 Goldman Lecture in Economics at Wellesley College.
Both text and Q&A are expected.
Good luck!
