Good Morning Traders.
It is Tuesday the 17th of October, here is what to look out for today.
Sentiment
As traders monitored US efforts to keep the conflict in Israel from escalating, the dollar rose and Treasuries fell.
Sterling fell after data on wage growth in the United Kingdom suggested that labor-market pressures were easing, while the Australian dollar led Group-of-10 gains after the RBA's October meeting minutes maintained a hawkish bias.
Brent crude has remained stable at around $90 per barrel.
With so many US small businesses struggling to cope with the Fed's tightening to date, Philadelphia Fed President Patrick Harker believes the Fed should not consider further interest-rate increases.
Holiday spending in the United States is expected to increase this year compared to last, though the increase among middle-income shoppers is expected to be much smaller due to the impact of student loans and lower wage growth.
President Biden will travel to Israel on a dangerous and politically risky trip in order to show solidarity with the US's closest ally in the Middle East and prevent the conflict from engulfing the entire region.
Docket
08:15 ET
Canadian Housing Starts Annualized for September
Median Forecast: 240K | Prior: 252.8K | Range: 275K / 235K
08:30 ET
Canadian CPI for September
YoY - Median Forecast: 4% | Prior: 4% | Range: 4.2% / 3.8%
MoM - Median Forecast: 0% | Prior: 0.4% | Range: 0.3% / -0.1%
US Retail Sales for September
MoM - Median Forecast: 0.3% | Prior: 0.6% | Range: 0.6% / -0.5%
Core MoM - Median Forecast: 0.2% | Prior: 0.6% | Range: 4.2% / 3.8%
09:15 ET
US Industrial Production MoM for September
Median Forecast: 0% | Prior: 0.4% | Range: 0.5% / -0.5%
Speakers
08:00 ET
Fed's Williams moderates a discussion with Intel CEO Pat Gelsinger at the Economic Club of New York.
09:00 ET
ECB's Knot appears on panel discussing Macroprudential policy: taking stock and approaching new frontiers, at 5th ECB macroprudential policy and research conference in Frankfurt.
09:20 ET
Fed's Bowman speaks about responsible innovation in money and payments at the Harvard Law School Program on International Financial Systems Roundtable on Central Bank Digital Currency. Both text and Q&A are expected.
10:00 ET
ECB's Centeno makes opening remarks at a conference in Lisbon about central banks' sanctioning powers.
10:45 ET
Fed's Barkin speaks to the Real Estate Roundtable in Washington. Both text and Q&A are expected.
13:00 ET
ECB's de Guindos gives dinner speech in Frankfurt at Joint European Central Bank and International Monetary Fund conference.
ECB's Holzmann speaks on Central banking in times of poly-crisis
ECB's Nagel gives speech Germany: basically healthy, but challenged in Berlin.
17:00 ET
Fed's Kashkari speaks in a moderated discussion at the 15th Annual Rothenberger Lecture, University of Minnesota Medical School, on the intersection of healthcare and the economy.
