Good Morning Traders!
It is Wednesday the 15th of November, here is what to look out for today.
Sentiment
The dollar held steady Wednesday after posting its biggest daily drop in a year, as inflation data confirmed bets that US interest rates have peaked.
The pound fell as UK data indicated cooling price pressures, while the New Zealand dollar led the group-of-10 gains as global risk appetite increased.
Officials at the Federal Reserve welcomed the latest data showing declining US inflation, but cautioned that there is still a long way to go before it reaches the central bank's 2% target.
The carefully choreographed, much-anticipated meeting between US President Biden and Chinese counterpart Xi on the sidelines of the Asia-Pacific Economic Cooperation summit begins Wednesday at the Filoli estate south of San Francisco.
US House lawmakers overcame partisanship to pass a temporary government funding bill that significantly reduces the risk of a government shutdown while delaying fights over Ukraine aid, border policies, and deep cuts to federal programmes.
Docket
08:30 ET
US PPI for October
YoY - Median Forecast: 1.9% | Prior: 2.2% | Range: 2.2% / 1.6%
MoM - Median Forecast: 0.1% | Prior: 0.5% | Range: 0.4% / -0.3%
Core YoY - Median Forecast: 2.7% | Prior: 2.7% | Range: 2.8% / 2.5%
Core MoM - Median Forecast: 0.3% | Prior: 0.3% | Range: 0.3% / 0.1%
US Retail Sales for October
MoM - Median Forecast: -0.3% | Prior: 0.7% | Range: 0.3% / -0.7%
Core MoM - Median Forecast: -0.1% | Prior: 0.6% | Range: 0.4% / -0.5%
10:00 ET
Business Inventories MoM
Median Forecast: 0.4% | Prior: 0.4% | Range: 0.4% / 0.3%
10:30 ET
Weekly EIA Inventories
Crude Oil - Median Forecast: 2M | Prior: 0.773M | Range: 13.5M / 1.7M
Speakers
09:30 ET
Fed's Barr testifies at a House Financial Services Committee hearing on oversight of financial regulators.
Watch Here
13:00 ET
BoE's Haskel delivers a speech at the Resolution Foundation ‘Investing a Better Britain’.
Register Here
15:30 ET
Richmond Fed President Tom Barkin speaks about housing. Both Text and Q&A are expected.
Register Here
Good luck!