Morning, Traders!
It is Thursday the 9th of February, here are some things to look out for today.
Sentiment
This morning, the dollar index pared yesterday's gain, and treasuries fluctuated as investors sought more clues about the Fed's future policy path.
Sweden's krona soared after the Riksbank raised interest rates and announced government bond purchases.
European stocks rose for the third day in a row, while US equity futures extended their gains.
Federal Reserve officials emphasised the importance of continuing to raise interest rates, including the possibility that borrowing costs will peak at a higher level than previously anticipated due to ongoing price pressures, according FOMC officials yesterday.
Jamie Dimon, CEO of JPMorgan, stated that the Fed may need to raise its benchmark interest rate above 5%.
According to the latest congressional budget office estimates, the federal budget deficit is rapidly expanding, raising the risk of the Treasury running out of cash sooner than expected amid a debt-ceiling standoff.
According to White House economists, a new measure shows that wage pressures are rapidly cooling in a key sector of the economy that Fed Chair Jerome Powell sees as critical to the outlook for inflation.
Docket
8:30 AM ET
US Weekly Jobless Claims Data
Initial Claims - Median Forecast: 190K | Prior: 183K | Range: 220K / 175K
Continuing Claims - Median Forecast: 1.66M | Prior: 1.655M | Range: 1.68M / 1.62M
10:30 AM ET
Weekly EIA Natural Gas Change
Median Forecast: -201 BCF | Prior: -151 BCF | Range: -188 BCF / -210 BCF
11:30 AM ET
US sells $75 bln in 4-Week Bills
1:00 PM ET
US sells $21 bln in 30-Year Bonds
Speakers
12:00 PM ET
ECB's Nagel gives a speech on energy prices and inflation at the University of Hohenheim.
1:00 PM ET
ECB's de Cos speaks at 'dialogues with the governor of the Bank of Spain on the future of globalization,' at LSE, London.
ECB's de Guindos gives a speech at the FORO Economia y Humanismo organized by Instituto Karol Wojtyla in Madrid
Earnings
4:25 PM ET
Paypal Q4 2022 Earnings
Estimated EPS: $1.20
Estimated Revenue: $7.4 bln
Good luck!
