Good Morning Traders!
It is Tuesday the 21st of February and here are some things to look out for today.
Sentiment
As cash trading resumed after the long weekend, the dollar gauge ended a two-day losing streak and treasury rates increased throughout the curve.
The pound increased after UK purchasing managers' figures showed greater optimism than expected, but the euro did not benefit from stronger-than-expected data from the Eurozone.
According to Goldman Sachs, the federal reserve will increase interest rates by a quarter point at its meetings in March, May, and June as a result of a stronger economic expansion.
Positive signals for global growth are being sent by the factors driving oil prices. Prices have been constant at about $85 per barrel since December as a result of increasing demand and adequate supply largely canceling each other out.
In addition to other indications that the world's largest crude importer is snatching up cargoes to satisfy surging demand as the economy reopens, refiners in China have expanded an oil purchasing binge to the Americas.
The biggest economies in Europe outperformed forecasts as economic activity picked up, increasing the likelihood that they can avoid recessions.
The US PMI report is due at 9:45 AM
Docket
8:30 AM
Canadian CPI for January
YoY - Median Forecast: 6.1% | Prior: 6.3% | Range: 6.3% / 5.5%
CPI MoM - Median Forecast: 0.7% | Prior: -0.6% | Range: 0.8% / 0.2%
Canadian Retail Sales MoM - Median Forecast: 0.5% | Prior: -0.1% | Range: 0.5% / -0.5%
9:45 AM
US S&P February Prelim
Manufacturing PMI Flash - Median Forecast: 47.4 | Prior: 46.9 | Range: 48.5 / 46.5
Services PMI Flash - Median Forecast: 47.3 | Prior: 46.8 | Range: 48.5 / 46
10:00 AM
US Existing Home Sales - Median Forecast: 4.1 mln | Prior: 4.02 mln| Range: 4.27 mln / 3.93 mln
11:30 AM
US 3-Month Bill Auction
US 6-Month Bill Auction
1:00 PM
US 1-Year Note Auction
US 2-Year Note Auction
Good Luck Trading Today.
