US leading index, current account balance and Baker Hughes rig count will also be released
The economic calendar is fairly sparse today with Canada retail sales the major release. The USDCAD is trading around its 200 hour moving average at 1.27572 and 100 hour moving average at 1.27366 ahead of the data. Will the pair get a shove away from the MAs (currently trades at 1.2754 near the upper extreme).
- Canada retail sales will be released at 8:30 AM ET/1330 GMT. The estimate is at 0.0% vs. 1.1% last month. Ex auto is expected at 0.1% vs. 1.0%
- US current account balance for the 3rd quarter is expected to show a deficit -187 billion vs. 2nd quarter -170 billion. The current account tends not to be a big market mover upon release. It will also be released at 8:30 AM/1330 GMT
- US leading index for the month of November is expected to rise by 0.5%. Last month it increased by 0.7%. It too is not known for being a big market mover. It will be released at 10 AM ET/1500 GMT
- Feds Brainard discusses climate change and financial conditions at 11:10 AM ET/1610 GMT
- The Baker Hughes weekly rig count will be released at 1 PM ET/1800 GMT. The expectations is that oil rigs increase to 264 from 258 last week. The total rigs are expected to rise to 345 from 338 last week.
Other than those releases and events, headlines from the Brexit/US Covid relief talks will dominate. In the stock market today it is triple witching hour which increases volumes and could increase volatility as well.
