Good Morning Traders!
It is Tuesday 27th of June, here are some things to look out for.
Sentiment
The dollar dropped versus its counterparts in the Group of 10 this morning after China increased support for its depreciating currency, boosting risk sentiment and reducing demand for the dollar as a safe haven.
After Monday's auction, Treasuries didn't change much, but two-year rates modestly increased. At the ECB forum in Sintra, investors are anticipating remarks from central bankers.
US stocks were set to start the day higher on hopes that the impending recession won't be as bad as anticipated. Broader indexes benefited from gains for Tesla and AI-related shares.
Today's mood is a little better as investors shake off worries that more Federal Reserve interest rate hikes could plunge the economy into recession and as there are new hopes for additional China stimulus.
Docket
08:30 AM ET
Canadian CPI for May
YoY - Median Forecast 3.4% | Prior 4.4% | Range 3.6%/3.2%
MoM - Median Forecast 0.4% | Prior 0.7% | Range 0.5%/0.3%
US Durable Goods May Prelim
Median Forecast -0.9% | Prior 1.1% | Range 1.5%/-3%
Core Durable Goods - Median Forecast 0% | Prior -0.3% | Range 0.5%/-1%
10:00 AM ET
US CB Consumer Confidence for June
Median Forecast 104 | Prior 102.3| Range 106.1/102
US New Home Sales - Units for May
Median Forecast 675K | Prior 683K | Range 779K/646K
13:00 PM ET
US sells $43 bln 5-Year Notes
Good luck!
