Today's main topic in the financial markets might once again be inflation. In the US, we will have the opportunity to hear opinions from more FOMC members. Meanwhile, in Canada, the CPI inflation report for April will be published.
As observed from yesterday's statements by Fed bankers, inflation remains the Federal Reserve's primary concern. The speeches by Barr and Jefferson reflected the Fed's cautious optimism and disappointment with the inflation dynamics in Q1 2024. Not much has changed in the market since yesterday's speeches, so we will likely hear similar rhetoric from other bankers later today. Between 2:00 PM and 4:45 PM, Waller, Bostic, Barr, Williams, and Barkin will be speaking.
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Open account Try demo Download mobile app Download mobile appEarlier, at 1:30 PM, the CPI report from Canada will be published. The market consensus indicates a further decline in CPI inflation on both an annual and monthly basis. Current market expectations suggest that the Bank of Canada (BOC) might lower interest rates 2-3 times before the Fed's first rate cut. Therefore, the CPI report could be an important confirmation of these expectations.
Detailed Schedule for the Day:
09:00 AM BST, United States - Treasury Secretary Yellen Speaks
09:00 AM BST, Euro Zone - ECB President Lagarde Speaks
01:30 PM BST, Canada - Inflation Data for April:
- Core CPI: previous 0.5% MoM;
- Core CPI: previous 2.0% YoY;
- CPI: forecast 2.7% YoY; previous 2.9% YoY;
- CPI: forecast 0.5% MoM; previous 0.6% MoM;
- Median CPI: forecast 2.7% YoY; previous 2.8% YoY;
- Trimmed CPI: forecast 2.9% YoY; previous 3.1% YoY;
02:00 PM BST, United States - Fed Waller Speaks
02:00 PM BST, United States - FOMC Member Barkin Speaks
02:05 PM BST, United States - FOMC Member Williams Speaks
02:10 PM BST, United States - FOMC Member Bostic Speaks
04:45 PM BST, United States - Fed Vice Chair for Supervision Barr Speaks
06:00 PM BST, United Kingdom - BoE Gov Bailey Speaks
12:00 AM BST, United States - Fed Collins Speaks
12:00 AM BST, United States - FOMC Member Bostic Speaks
12:00 AM BST, United States - FOMC Member Mester Speaks
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