Movers & Shakers by John Thorpe, Senior Commodity broker

Today’s Headlines recap:

 

  • The Int'l Monetary Fund (IMF) raised their 2024 China growth forecast to +5.0% from the previous +4.6% estimate
  • CDC officials Tuesday said there are still no signs of human to human transmission of bird flu, risk of infection still remains very low for the general population
  • The Int'l Monetary Fund (IMF) claimed tariff increases could push inflation upward.
  • Fed Gov Kugler: inflation upside risks and labor market down side risks have become more balanced, but would be appropriate to lower rates sooner rather than later if labor market cools too much. If economic conditions continue to evolve favorably, then it will be appropriate to begin easing later this year

 

Tomorrow’s Market movers:



  • US housing starts and building permit data will be released Wednesday morning at 7:30 am CT. Economists are forecasting housing starts +1.8% month-to-month to 1.30 mln unit annualized pace in June. They are also forecasting US building permit data +1.0% to 1.40 mln unit rate.
  • Richmond Fed President Barkin will speak at a Greater Prince George's Business Roundtable event Wednesday, starting around 8:00 am CT.
  • The Federal Reserve will release their monthly industrial production and capacity utilization data Wednesday morning around 8:15 am CT. Analysts expect June production +0.3% on month-to-month terms, and expect capacity use at 78.5% compared to the previous month's 78.7%.
  •  Kansas City Fed event will start Wednesday with Federal Reserve Governor Waller and Kansas City Fed President Schmid set to give opening remarks around 8:35 am CT.
  • US Treasury announced it will auction $60 bln in 17 wk TBills on Wednesday
  • Federal Reserve "Beige Book" of anecdotal economic conditions from US Federal Reserve districts will be released Wednesday afternoon around 1:00 pm CT.

Tomorrows Trading Levels:

Wishing all of you Good trading!

Cannon Trading Co, Inc. Est. 1988
www.CannonTrading.com
Toll Free:

800-454-9572

Int'l:

+310-859-9572
Margins / Commissions / Platforms / Professional Traders /Free Demo

Trading commodity futures and options involves a substantial risk of loss.
The information here is of opinion only and do not guarantee any profits.
Past performances are not necessarily indicative of future results.


 


On the date of publication, Ilan Levy-Mayer did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Disclosure Policy here.

Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.

Tags: