What to Watch in the Day Ahead - Tuesday, April 7
In U.S., the Commerce Department's Census Bureau is scheduled to release durable goods data for February, where the orders are likely to fall 1% after remaining unchanged in the previous month. Durable goods excluding transportation likely rose 0.4%, matching the rise in January. Meanwhile, nondefense capital goods excluding aircraft gained 0.4% in February after a 0.1% rise in the month before. Also, the Federal Reserve is expected to report consumer credit figures for February, with the numbers likely to come in at $10.25 billion.
Federal Reserve Vice Chair Philip Jefferson is set to speak on the economic outlook and the labor market before the University of Detroit Mercy College of Business Administration Charlton Center for Responsible Investing Speaker Series (1750/2150). Additionally, Chicago Fed President Austan Goolsbee is scheduled to participate in a moderated conversation and Q&A on the U.S. economy and monetary policy before the Detroit Economic Club (1235/1635).
The board of the U.S. Federal Deposit Insurance Corporation will meet to vote on proposing stablecoin and money-laundering regulations, and on whether to adopt a new rule barring bank supervisors from using reputation risk in their oversight of insured lenders.
Furthermore, Centripetal Networks will ask the Federal Circuit to revive a network-security patent lawsuit against Cisco Systems that previously led to a $2.7 billion damages award for the cybersecurity company - the largest in U.S. patent history. The Federal Circuit vacated the award after it was learned that the presiding judge's wife held nearly $5000 in Cisco stock. A new judge ruled in 2023 that Cisco did not infringe Centripetal's patents.
On the Canadian economic front, the Ivey Purchasing Managers Index data is due, where the reading for February was seen at 56.3.
In Latam, Brazil's Ministry of Development, Industry, Trade and Services is set to show the trade balance likely reached a $7.4 billion surplus in March after a $4.2 billion surplus in the month before.
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