Good Morning Traders.
It is Wednesday the 5th of April, and here are some things to look out for today.
This morning, the dollar index edged higher after falling over the past two days. Treasuries fell, led by the short-end.
The Reserve Bank of New Zealand surprised markets with a half-point interest rate hike last night, twice as much as forecast.
President Mester of the Federal Reserve Bank of Cleveland said last night that policymakers should raise their benchmark rate above 5% this year and keep it at restrictive levels for some time to combat inflation, with the exact level depending on how quickly price pressures ease.
The US is working with allies to counter unfair competition from China, according to President Joe Biden's trade chief, with the goal of creating new agreements that strengthen American supply chains and address long-standing vulnerabilities.
8:15 AM ET
US ADP Employment Change for March
Median Forecast 210K | Prior 242K | Range 250K /160K
8:30 AM ET
US Trade Balance for February ($)
Median Forecast -68.8B | Prior -68.3B | Range -67B /-72B
Canadian Trade Balance for February (C$)
Median Forecast 1.7B | Prior 1.92B | Range 2.45B /-0.76B
9:45 AM ET
US S&P Services PMI Final for March
Median Forecast 53.8 | Prior 53.8 | Range 53.8 /53.6
10:00 AM ET
US ISM Services PMI for March
Median Forecast 54.4 | Prior 55.1 | Range 56 /50
10:30 AM ET
Weekly EIA Inventories
Crude Oil Inventories - Median Forecast -2.25M | Prior -7.489M | Range 2M /-5.083M
10:00 AM ET
ECB's Lane gives a lecture at the University of Cyprus.
Good Luck Today!