Good Morning Traders.
It is Friday the 20th of October, here is what to expect today.
Sentiment
The dollar steadied, while Treasuries rose as markets braced for the potential of an escalation in the Israel-Hamas conflict over the weekend.
Sterling slumped after UK retail sales tumbled, while the Japanese yen fluctuated just below 150 per dollar. Oil and gold inched higher.
Federal Reserve Chair Powell suggested that the US central bank is inclined to hold interest rates steady again at its next meeting while leaving open the possibility of a future hike if policymakers see further signs of resilient economic growth.
Economists raised their US growth projections through early 2024 and trimmed recession odds to a one-year low as consumers continue to spend.
Docket
08:30 ET
Canadian Retail Sales
MoM - Median Forecast: -0.1% | Prior: 0.3% | Range: 1.1% / -0.3%
Core MoM - Median Forecast: -0.1% | Prior: 1% | Range: 1.2% / -1.5%
Speakers
09:00 ET
Fed's Harker speaks on the economic outlook at the Risk Management Association Philadelphia Chapter Meeting. Both text and Q&A are expected.
12:15 ET
Fed's Mester speaks on the outlook for the economy and monetary policy at the Manhattan Institute for Policy Research. Both text and Q&A are expected.
