Good Morning Traders!
It is Thursday 8th of June. Here are the things to look out for today.
Sentiment
The dollar fell against all G-10 currencies, while Treasuries were little changed after the previous day's sharp selloff following the Bank of Canada's surprise hike in interest rates.
The two-year Treasury yield remained unchanged at 4.55%, close to a one-week high of 4.60% set after the BOC decision. Traders are now betting on a roughly 90% chance that the Fed will raise interest rates by 25 basis points in July, up from around 80% at the start of the week; the chance of a hike next week is less than 40%, unchanged from Wednesday.
US futures slipped and Treasuries held their sharp move from the previous session, after a surprise Bank of Canada rate increase led traders to reassess the risks from stubborn inflation.
Docket
08:30 AM ET
US Initial Jobless Claims - Median Forecast 235K | Prior 232K | Range 260K/220K
10:00 AM ET
US Wholesale Inventories MoM Rev. - Median Forecast -0.2% | Prior -0.2% | Range -0.1%/-0.2%
12:00 PM ET
Fed Flow of Funds Report
Fed Quaterly Financial Accounts
Speakers
15:25 PM ET
BoC's Beaudry will give an "Economic Progress Report" before the Greater Victoria Chamber of Commerce. Text (15:10 release) Q&A with Media (16:45)
