VOT Research Desk
On Wednesday, November 23, you should be aware of the following.As investors wait for the publication of important macroeconomic data, markets remain relatively quiet early on Wednesday.
The 10-year US Treasury bond yield and US stock index futures both trade unchanged on the day, while the US Dollar Index, which lost three straight days, drifts sideways near 107.00. Germany, the Eurozone, the UK, and the United States’ preliminary November Manufacturing and Services PMI surveys will be released by S&P Global (US).
The US economic docket will also include information on October’s Durable Goods Orders and New Home Sales, weekly Initial Jobless Claims, and the Consumer Sentiment Survey from the University of Michigan. Last but not least, the US Federal Reserve will release the minutes before the Thanksgiving holiday, the October policy meeting.
The US Federal Reserve (Fed) is presently expected to choose a lower, 50 basis point rate hike in December, according to the FedWatch Tool from the CME Group.
The Fed stated in its policy statement from October that when deciding how quickly interest rates will rise, decision-makers will consider the cumulative tightening of monetary policy as well as the lags between monetary policy’s effects on inflation and economic activity.
