Good Morning, Traders
Happy Friday! Today is the 13th of January, here are some things to look out for today.
Sentiment
As risk appetite remained positive ahead of Federal Reserve speakers, the dollar measure declined to its worst level since May, and treasuries were neutral. Yen's rally continued in expectation of a policy shift. An index of international stocks is on track to post its largest weekly increase since November. European stock markets rose for a third day in a row, while US equity futures saw minimal movement.
Congress has several options to prevent a financial crisis and raise the debt ceiling as the US government faces the threat of a payment default later this year.
The Federal Reserve is expected to switch to a quarter-point rate hike next month as a result of the US inflation slowing down, according to analysts.
The chief of the IMF urged China to continue reopening its economy, claiming that it would be the single most crucial factor affecting global growth in 2023 if the country moved away from its current COVID zero policy.
Docket
8:30 AM ET
AM US Import Prices MoM December 2022 - Median Forecast: 6.5% | Prior: 7.1% | Range: 6.8% / 6.3%
US Export Prices MoM December 2022 - Median Forecast: 6.5% | Prior: 7.1% | Range: 6.8% / 6.3%
10:00 AM ET
University Michigan Sentiment Data January 2023:
Sentiment Prelim Median Forecast: 60.5 | Prior: 59.7 | Range: 63 / 57
Condition Prelim Median Forecast: 60 | Prior: 59.4 | Range: 60.1 / 58
Expectations Prelim Median Forecast: 59 | Prior: 59.9 | Range: 61 / 57
1 Yr Inflation Prelim Median Forecast: 4.3% | Prior: 4.4% | Range: 4.5% / 4.2%
5 Yr Inflation Prelim Median Forecast: 2.9% | Prior: 2.9% | Range: 3% / 2.8%
Speakers
9:15 AM ET
Fed's Williams is being interviewed at an event hosted by the WSJ.
Text is yet to be determined.
10:00 AM ET
Fed's Kashkari Speaks at an event on the economic outlook hosted by the Philadelphia Chamber of Commerce.
Text is expected. There will be a Q&A with the audience.
Have a good weekend!
