Good Morning, Traders!
It is Thursday the 26th of October, here is what to expect today.
Sentiment
The dollar advanced against most Group-of-10 peers this morning while Treasury yields steadied ahead of US data that economists forecast will show growth accelerated strongly in the third quarter. The euro stayed under pressure ahead of a European Central Bank policy decision that is seen keeping rates on hold for the first time in more than a year.
US economic activity probably expanded at an annualized rate over the last three months amid a bevy of temporary tailwinds, according to median economist estimates.
The European Central Bank is set to keep interest rates on hold for the first time in more than a year amid growing evidence that its unprecedented bout of hikes is helping to bring down inflation.
Docket
08:30 ET
US GDP QoQ Advance for Q3
Median Forecast: 4.5% | Prior: 2.1% | Range: 6% / 2.8%
US Durable Goods for September
Median Forecast: 1.8% | Prior: 0.1% | Range: 4.8% / -0.5%
Core Durable Goods for September
Median Forecast: 0.2% | Prior: 0.4% | Range: 0.5% / -0.4%
Weekly Jobless Claims Data
Initial - Median Forecast: 207K | Prior: 198K | Range: 230K / 196K
Continued - Median Forecast: 1.74M | Prior: 1.734M | Range: 1.75M / 1.71M
08:45 ET
ECB Press Conference with President Lagarde
10:00 ET
US Pending Home Sales Change MoM for September
Median Forecast: -2% | Prior: -7.1% | Range: 2% / -6.8%
11:30 ET
US Sells $95 Bln in 4-Week Bills at Auction
13:00 ET
US Sells $38 Bln in 7-Year Notes at Auction
Speakers
09:00 ET
Fed's Waller delivers opening remarks at the Fed's Economics of Payments XII Conference. Text is expected but no Q&A.
12:45 ET
BoE's Cunliffe gives a speech in Washington on "cross-border payments and other CPMI payments issues. Speech released at 10:00 ET
Earnings
16:00 ET
Amazon Q3 Earnings
Est. EPS 58c
Est. Rev $141.56B
Intel Q3 Earnings
Est. EPS 22c
Est. Rev $13.54B
