Morning Juice – US Session Prep
Morning, Traders!
It is Wednesday the 6th of March, and today, the busy data week begins.
Here are some things to look out for today.
Sentiment
The dollar traded lower this morning, and US stock futures rose this morning after a two-day sell-off ahead of testimony from Fed’s Chair Powell, which is expected to see him reiterate that he is in no rush to lower interest rates.
Markets in the US also await some US employment data, ahead of the headline Nonfarm Payrolls number on Friday.
The Loonie held steady ahead of the Bank of Canada’s interest rate decision this morning.
Docket
08:15 ET
US ADP Employment Change for February
Median Forecast: 150k | Prior: 107k | Range: 200k / 75k
09:45 ET
Bank of Canada Interest Rate Decision
Median Forecasts see the Bank of Canada leaving rates unchanged at 5% for the fifth consecutive meeting.
Bank of Canada Rate Statement
10:00 ET
US JOLTS Job Openings for January
Median Forecast: 8.85M | Prior: 9.026M | Range: 9.1M / 8.67M
10:30 ET
US Weekly EIA Crude Oil Inventories
Median Forecast: 2.741M | Prior: 4.199M | Range: 4M / -2.6M
14:00 ET
Fed’s Beige Book
Speakers
10:00 ET
Fed’s Powell will testify before the House Financial Services Committee.
Watch Here
Monetary Policy Report pre-release
10:30 ET
BoC Press Conference with Governor Macklem following the BoC rate decision.
Watch Here
12:00 ET
Fed’s Daly gives a keynote address at the 2024 National Interagency Community Reinvestment Conference. Prepared remarks, followed by a moderated Q&A.
Text and Q&A are both expected.
Watch Here
16:15 ET
Fed’s Kashkari participates in a moderated discussion at the Wall Street Journal’s CFO Network Summit.
No text is expected, but there will be a Q&A.
Event Details
Good luck!
