Morning, Traders!
It is Tuesday the 19th of December, here are some things to look out for today.
Sentiment
The dollar slumped against all G-10 currencies except the yen this morning as traders anticipated US home starts data to see if the dramatic interest-rate cuts factored in by the market are justified.
Japanese officials did not lay the framework for a move away from sub-zero interest rates, and BOJ governor Ueda resisted predictions of policy tightening as early as January.
According to a Bank of America survey, investors are the most optimistic since the beginning of 2022.
However, several policymakers in Europe and the US have tried to push back against such bets, with Chicago Fed President Austan Goolsbee and Cleveland Fed President Loretta Mester suggesting yesterday that the expectations were premature. Atlanta Fed's Barkin & Bostic will speak later today.
Docket
08:30 ET
Canadian CPI for November
YoY - Median Forecast: 2.8% | Prior: 3.1% | Range: 3% / 2.7%
MoM - Median Forecast: -0.2% | Prior: 0.1% | Range: 0% / -0.2%
US Housing Starts for November
Median Forecast: 1.36M | Prior: 1.372M | Range: 1.424M / 1.272M
Speakers
09:30 ET
Fed's Barkin interviewed on Yahoo Finance
12:30 ET
Fed's Bostic speaks on the US economy, the outlook for business, and the Fed's role at a fireside chat at the Harvard Business School Club of Atlanta Alumni Leadership Lunch.
Lunch begins at 11:45 ET, and the program begins at 12:30 ET.
Text: No.
Q&A: Audience, yes.
Media: No. Webcast link: No.
14:30 ET
RBNZ Governor Orr speaks at the Finance & Expenditure Select Committee on MPS.
