Morning Juice – US Session Prep

Morning, Traders!
It is Thursday the 18th of January, here are some things to look out for today.

Sentiment
The dollar dropped, fighting against four days of gains, and treasuries rose this morning.
The Japanese yen led the G-10 currencies, followed by the Australian dollar.
The Swiss franc steadied after it’s longest losing streak against the Dollar since December.

Yesterday, traders started pushing back on bets against Fed rate cuts this year, reducing the odds of a March rate cut to 50%.
This comes after a slew of Fedspeak this week, namely, Fed’s Waller on Tuesday, where he noted that his views are consistent with Fed policymaker projections for 3 25-bps rate cuts in 2024.
The market’s currently expect as many as 5-6 cuts this year.

Docket
08:30 ET
US Housing Starts Number for December
Median Forecast: 1.425M | Prior: 1.56M | Range: 1.57M / 1.36M

US Weekly Jobless Claims
Initial Claims – Median Forecast: 205K | Prior: 202K | Range: 220K / 190K
Continued Claims – Median Forecast: 1.843M | Prior: 1.834M | Range: 1.86M | 1.8M

11:00 ET
Weekly EIA Crude Oil Inventories
Median Forecast: -0.85M | Prior: 1.338M | Range: 2.747M / -2.8M

11:30 ET
US sells $85 bln 4-Week Bills

13:00 ET
US sells $18 bln 10-Year TIPS

Speakers
10:15 ET
ECB’s President Lagarde speaks at the WEF panel in Davos.

11:30 ET
Fed’s Bostic speaks at the Atlanta Business Chronicle’s 2024 Economic Outlook lunch.
Text: Yes.
Q&A: No.
Livestream: No.

Good luck!