Good Morning Traders.
It is Thursday the 12th of October, and here is what to look out for today.
Sentiment
The dollar was poised for its lengthiest streak of declines in more than three years following additional hints from several Federal Reserve officials that US interest rates might have reached their peak.
Treasury bonds saw minimal movement, with investors anticipating the release of the US Consumer Price Index later in the day to gain a clearer perspective on the inflation and rate outlook.
Later in the day, Federal Reserve Bank of Dallas President Lori Logan, Federal Bank of Atlanta President Raphael Bostic, and Federal Bank of Boston President Susan Collins are scheduled to deliver speeches.
A monthly report on US consumer prices is expected to complicate matters for Federal Reserve officials as they deliberate whether to raise interest rates once more, especially in light of growing tensions in the Middle East, as reported by newswires.
For a designated prep article on today's US CPI release, CLICK HERE
The White House has attributed the increase in the US budget deficit this year to President Donald Trump's tax cuts, setting the stage for a political confrontation as Republicans advocate extensive spending reductions to curb government borrowing.
Federal Reserve Bank of Boston President Susan Collins stated that officials are now adopting a more cautious approach to monetary policy, given that interest rates are either at their peak or in close proximity, while emphasizing the potential for additional rate hikes in the future.
Docket
08:30 AM ET
US CPI for September
YoY - Median Forecast: 3.6% | Prior: 3.7% | Range: 4% / 3.5%
MoM - Median Forecast: 0.3% | Prior: 0.6% | Range: 0.6% / -0.2%
Core YoY - Median Forecast: 4.1% | Prior: 4.3% | Range: 4.2% / 4%
Core MoM - Median Forecast: 0.3% | Prior: 0.3% | Range: 0.4% / 0%
Weekly Jobless Claims Data
Initial - Median Forecast: 210K | Prior: 207K | Range: 230K / 200K
Continued - Median Forecast: 1.676M | Prior: 1.664M | Range: 1.7M / 1.66M
11:00 AM ET
Weekly EIA Inventories
Crude - Median Forecast: -0.37M | Prior: -2.224M | Range: 3M / -3.02M
11:30 AM ET
US sells $95 bln in 4-Week Bills at Auction
Speakers
10:00 AM ET
Fed's Logan delivers welcoming remarks at the Digital Inclusion Research Forum.
She will make no comments on monetary policy or the economy.
1:00 PM ET
Fed's Bostic delivers welcoming remarks to the National Agriculture Conference at the Atlanta Fed.
No text or Q&A.
4:c00 PM ET
Fed's Collins speaks at the 22nd Annual Regional and Community Bankers Conference, hosted by the Boston Fed, where she'll share perspectives on the economy.
Both text and Q&A are expected.
Good luck!
