Morning, Traders!
It is Thursday the 9th of March. Here are some things to look out for today.
Sentiment
The dollar index fell for the first time in three days this morning, while the yen rose as a result of Federal Reserve Chair Jerome Powell's less hawkish remarks in congressional testimony on Wednesday.
The focus now shifts to US employment data due Friday and inflation data due early next week.
Treasury bills with shorter maturities rose, while European bonds fell. European stocks, like US equity futures, extended their opening losses.
According to contacts surveyed in the Federal Reserve's latest Beige Book released yesterday, the economy proved resilient to begin the new year, with steady consumer spending and stabilizing manufacturing activity.
Fed Chair Jerome Powell stated yesterday in his second day of testimony that returning to big interest-rate hikes is contingent on more than just Friday's jobs report, but economists believe that just a little strength in the data will suffice.
The Federal Reserve Bank of New York announced this week that stress on the world's beleaguered supply chains had finally returned to normal - albeit slightly below average.
Docket
08:30 AM ET
US Jobless Claims for the Week
Initial Claims - Median Forecast 195K | Prior 190K | Range: 210K / 180K
Continued Claims - Median Forecast 1.66M | Prior 1.655M | Range: 1.68M / 1.645M
11:30 AM ET
US sells $65 bln 4-Week Bills
12:00 PM ET
Fed's US Quarterly Financial Account
1:00 PM ET
US sells $18 bln 30-Year Notes
Speakers
08:15 AM ET
BoE Breeden Speaks on macro-prudential/monetary policy interactions at Leeds University.
10:00 AM ET
Fed's Barr Speaks about Crypto in a speech at Peterson Institute for International Economics.
Text and a Q&A are expected.
1:45 PM ET
BoC Senior Dep. Gov. Rogers gives an economic progress report.
Good Luck!
