Today's calendar features crucial US inflation data, Bank of Canada's rate decision, and EIA inventory reports. Markets await OPEC's monthly outlook while monitoring US mortgage trends and New Zealand retail figures. The dollar's near-term direction hinges critically on Wednesday's inflation report, with forecasters anticipating another month of sticky price pressures. The core consumer price index, excluding food and energy, is projected to maintain its 0.3% monthly pace, suggesting the Federal Reserve's path to its 2% target remains challenging.
Economic Data Releases (GMT):
12:00
- US MBA Mortgage Applications: previous 2.8% WoW
- US MBA 30-Year Mortgage Rate: previous 6.69%
- US Mortgage Market Index: previous 213.9
- US Mortgage Refinance Index: previous 498.5
- US MBA Purchase Index: previous 161.5
13:30
- US CPI (Nov):
- Headline YoY: forecast 2.7% vs 2.6% previous
- Core YoY: forecast 3.3% vs 3.3% previous
- Headline MoM: forecast 0.3% vs 0.2% previous
- Core MoM: forecast 0.3% vs 0.3% previous
- US Real Earnings (Nov): previous 0.1% MoM
14:45
- Bank of Canada Rate Statement & Decision: forecast 3.25% vs previous 3.75%
15:30
- US EIA Weekly Oil Inventory Data:
- Crude Oil: forecast -1.000M vs -5.073M previous
- Gasoline: forecast -0.200M vs 2.362M previous
- Distillates: forecast 0.900M vs 3.383M previous
18:00
- US 10-Year Note Auction: previous 4.347%
19:00
- US Federal Budget Balance (Nov): forecast -349.0B vs -257.0B previous
21:45
- New Zealand Electronic Card Retail Sales (Nov):
- MoM: previous 0.6%
- YoY: previous -1.1%
Central Bank Speakers (GMT):
- 14:45 - Bank of Canada Rate Statement & Decision
- 15:30 - Bank of Canada Press Conference
- 18:00 - German Bundesbank Balz Speech
Earnings:
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