Morning, Traders!
It is Wednesday the 11th of January, the calm before the storm of tomorrow's US CPI print.
Here are some things to keep in mind during today's session
Sentiment
As attention shifted to Thursday's US consumer price data for hints on the Federal Reserve's rate hike trajectory, the dollar gauge barely changed this morning, while treasuries reversed Tuesday's losses. European equities rose, as US equity futures turned positive.
Officials from the Federal Reserve are pressing hard to persuade investors that they won't be cutting their benchmark interest rate before the year is out.
Progressive lawmakers, unions, and worker advocates are advocating for a big rise in the minimum wage in New York State, but business organizations argue that it will be devastating to businesses still trying to recover from the pandemic.
Docket
10:30 AM ET
US Weekly EIA Inventories
Crude Oil Inventories - Median Forecast: -2M | Prior: 1.694M | Range: 4.281M / -3.5M.
1:00 PM ET
US sells $32 bln 10-Year Notes.
Speakers
2:15 PM ET
ECB's de Cos Speaks in Madrid.
Good luck!
