Good Morning Traders!
Today is Tuesday the 16th of May and here are the things to look out for.
As investors evaluated the prospects for US interest rates, the dollar remained under pressure while US Treasuries increased. Officials from the Federal Reserve on Monday gave conflicting indications about the potential direction of the institution's next policy action, and more remarks are anticipated later on Tuesday.
As President Biden and congressional leaders prepared to meet to discuss the deadlock, Treasury Secretary Janet Yellen stated that "time is running short" to prevent the economy from suffering.
Progressives in the US House have threatened to oppose any debt-limit agreement that includes further limits that Republicans are seeking, such as cutting off food aid to the poor.
08:30 AM ET
Canadian CPI for April
YoY - Median Forecast 4.2%| Prior 4.3%| Range 4.4%/3.7%
US Retail Sales for April
MoM - Median Forecast 0.8%| Prior -1%| Range 2%/-0.1%
09:15 AM ET
US Industrial Production MoM for April
Median Forecast 0%| Prior 0.4%| Range 0.5%/-0.3%
11:30 AM ET
US sells $36 bln 52-Week Bills
08:15 AM ET
Fed's Mester discusses the economic and policy outlook during a speech at a Global Interdependence Center event hosted by the Central Bank of Ireland in Dublin. Text and Q&A are expected.
08:55 AM ET
10:00 AM ET
ECB's Lagarde gives laudatio for conferral of State Prize of North Rhine-Westphalia to Angela Merkel in Cologne.
Fed's Barr testifies before the House Financial Services Committee in its Semiannual Hearing on Supervision and Regulation. Text has already been made available.
12:15 PM ET
Fed's Williams takes part in a moderated discussion on the economic outlook and monetary policy at an event hosted by the University of the Virgin Islands.
2:30 PM ET
3:15 PM ET
Fed's Logan moderates a panel discussion at the Atlanta Fed's Financial Markets Conference in Amelia Island, Florida. No text but a Q&A with the audience.