Morning, Traders!
It is Tuesday, the 14th of November, and today is the day of the long-awaited US inflation report, representing the month of October.
Nonetheless, here are some things to look out for today.
Sentiment
As traders awaited the release of US CPI data for hints on future Federal Reserve policy, the dollar fell and Treasuries rose.
The Japanese yen remained near its lowest level in more than three decades, the pound pared gains after UK wage growth slowed less than expected, and the euro strengthened after Germany's ZEW survey showed an increase in investor optimism.
The interest paid by the United States on its debt increased in October compared to the previous year, highlighting the rising cost to the government of higher Treasury yields.
As trade tensions between the world's largest economies simmer, US Treasury Secretary Yelten said she told her Chinese counterpart that Beijing's heavy financial support for certain industries could pose a threat to other nations.
US House Speaker Johnson is counting on Democrats to overcome their reservations and approve his proposal to avoid a government shutdown in the United States.
Docket
08:30 ET
US CPI for October
YoY - Median Forecast: 3.3% | Prior: 3.7% | Range: 3.4% / 3.2%
MoM - Median Forecast: 0.1% | Prior: 0.4% | Range: 0.2% / 0%
Core YoY - Median Forecast: 4.1% | Prior: 4.1% | Range: 4.2% / 3.7%
Core MoM - Median Forecast: 0.3% | Prior: 0.3% | Range: 0.4% / 0.2%
For more views on what to expect from this CPI report, Click Here
Speakers
08:15 ET
ECB's Elderson speaks on "The need for climate action and the role of the financial sector" at the Sustainable Finance Conference organized by the European Parliament.
Register Here
08:45 ET
Bank of England Chief Economist Pill speaks at the Bristol Festival of Economics 2023 on "Talking Economics: What Next for Central Banks?"
Register Here
10:00 ET
Federal Reserve Vice Chair for Supervision Barr testifies at a Senate Banking Committee hearing on oversight of financial regulators.
Text: Pre Released, Read Here
Watch Here
11:00 ET
Fed's Mester gives brief opening remarks before the virtual "Conversations on Central Banking: The Unequal Burden of Inflation" event hosted by the Federal Reserve Bank of Cleveland
Register Here
12:00 ET
Bank of France Governor Villeroy de Galhau speaks at France's Conseil d'Etat
12:45 ET
Chicago Fed President Goolsbee speaks to the Detroit Economic Club about the economy and monetary policy.
Text: TBD.
Q&A: Yes.
Watch Here
Good luck!