US: Advance goods trade and Fed speak in focus - TDS

 A number of US mid-tier data releases will provide a distraction from the steady flow of Fed speakers and on the data front, the most notable release will be advance goods trade for August, where the market expects the deficit to be at $65.1bn, according to analysts at TDS.

Key Quotes

“Preliminary wholesale inventories for August will be released alongside and the market expects a 0.4% m/m increase. The third print of Q2 GDP is not likely to get much attention as consensus looks for an unrevised 3.0% q/q (ann.) growth rate while initial jobless claims are projected by the market to rise to 270k for the week of September 23rd.”

“Looking to the Fed, Vice Chair Stanley Fischer is set to give his final (scheduled) speech before resigning on or around October 13. Fischer will be speaking at 10:00 ET on “Developments in Central Banking” but given that he will not vote at any future FOMC meetings, his comments are unlikely to move markets. Kansas City Fed President George speaks at 9:45 ET on the economy and monetary policy; George is not a 2017 voter and is a noted hawk. The Atlanta Fed’s Bostic rounds out the calendar with a 13:30 ET address on “Careers in Economics”, which is unlikely to touch on the outlook after his policy focused speech on Tuesday.”