Good Morning Traders!
Happy Friday, it is the 21st of April, and here are some things to look out for today.
Sentiment
This morning, only the Japanese yen outperformed the dollar in the face of rising risk sentiment surrounding US-China relations.
Stock futures in the United States remained steady, and the 10-year yield remained unchanged at 3.53%, while the curve twist steepened.
The focus is on US PMI data for April and a speech by Fed's Cook.
According to people familiar with the internal deliberations, President Joe Biden plans to sign an executive order in the coming weeks that will limit American business investment in key sectors of China's economy.
Federal Reserve officials backed another rate hike as they monitor the economic fallout from bank strains, while new emergency loan data showed financial stress persists.
Docket
8:30 AM ET
Canadian Retail Sales MoM for February
Median Forecast -0.6% | Prior 1.4% | Range 0.3%/-1%
9:45 AM ET
US S&P PMI Flash Data for April
Manufacturing PMI - Median Forecast 49 | Prior 49.2 | Range 49.5/47.5
Services PMI - Median Forecast 51.5 | Prior 52.6 | Range 53.2/49
Speakers
10:30 AM ET
ECB's Elderson gives a speech on accounting for climate change within central bank and banking supervision mandates.
1:35 PM ET
ECB's de Guindos Speaks
4:35 PM ET
Fed's Cook discusses economic research at an event at Georgetown University.
(Text: Yes, Q&A: Yes, with Audience)
Good luck!
