Good Morning Traders!
It is Tuesday the 25th of April, and here are some things to look out for.
As mixed earnings reports dampened risk appetite and traders awaited US data on new home sales and consumer confidence, US Treasuries rallied alongside global bonds this morning.
The Dollar Index was poised to end a three-day losing streak as safe-haven currencies outperformed.
President Biden formally announced his intention to run for re-election in 2024, laying the groundwork for a historic campaign against a Republican field dominated by his predecessor, even as economic uncertainty clouds his case for a second term.
Following the resolution of financial-market tensions caused by US bank failures, the Federal Reserve and its global counterparts will resume fewer auctions for dollar funding.
According to Moody's analysis, the deficit reduction plan proposed by House Speaker Kevin McCarthy as the price for raising the debt ceiling would significantly slow economic growth and increase unemployment next year if implemented.
10:00 AM ET
US CB Consumer Confidence - Median Forecast 104 | Prior 104.2 | Range 48.5/47.0
US New Home Sales Units - Median Forecast 630K | Prior 640K | Range 110.1/103
1:00 PM ET
US 2-Year Note Auction
9:15 AM ET
German Finance Min. Lindner speaks at the SPD economy conference.