What to Watch in the Day Ahead - Friday, July 10
(The Day Ahead is an email and PDF publication that includes the day's major stories and events, analyses and other features. To receive The Day Ahead, Eikon users can register at . Thomson One users can register at RT/DAY/US. All times in ET/GMT) Federal Reserve Chair Janet Yellen will give her views on the prospects for U.S. growth, inflation and the job market amid keen global investor interest on whether she sides with the faction at the Fed that believes the central bank should raise rates just once this year or with those who prefer two rate hikes. Her most influential colleagues are split on the issue and her comments at the City Club of Cleveland, Ohio will be watched for clues on her stance. (1230/1630) Separately, the Federal Reserve Bank of Boston President Eric Rosengren, the dovish U.S. central banker, will speak to Reuters exclusively about the economy's ability to absorb its first rate hike in nearly a decade and any misgivings he may have about a rate hike when pockets of the labor market are still struggling. Also, U.S. Treasury Secretary Jack Lew participates in Politico/Nasdaq conversation, "America's Fiscal Future". (0800/1200) The Commerce Department releases data on wholesale inventories, which are expected to have increased 0.3 percent in May, a slower pace than the previous month. Sales at wholesalers are also estimated to have risen 0.6 percent in May compared with a rise of 1.6 percent in April.(1000/1400) The Canadian jobs market is forecast to have shed 10,000 positions last month, giving back some of the previous month's hefty gain and pushing up the unemployment rate to 6.9 percent. The employment report could be key in shaping investors' expectations around the economy and on what the Bank of Canada might do when it decides on interest rates next week. The economy contracted in the first quarter and at the start of the second, putting at risk the central bank's expectation that growth will regain momentum from the second quarter. (0830/1230) Mexico's industrial output data for May will show if the slump in oil production is continuing and it will provide a reading on factory output, which has been shaky this year. (0900/1300) LIVECHAT: THE WEEKAHEAD - with Reuters markets editor Mike Dolan Join Mike as he goes through the key macroeconomic and political themes for the coming week at 0600 ET/1000 GMT. To join the Global Markets Forum, click here bit.ly/1kTxdKD (Compiled by Hardik Vyas in Bengaluru; Editing by Kirti Pandey)
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