Morning Juice – US Session Prep

Morning Traders!
It is Wednesday the 1st of May, an important day for economic data, with a slew of much-anticipated employment and manufacturing data, ahead of the US interest rate decision.
Here are some things to look out for.

Sentiment
Stocks dropped this morning on mixed earnings and continuing concern over higher-for-longer interest rates, with all eyes on the Federal Reserves decision this afternoon

Risk-off mood shone through as contracts on the S&P 500 pointed to losses following US data yesterday that reinforced the idea that FOMC officials will keep rates at a 2-decade high.

Last time Fed’s Chair Powell spoke, he pointed to the lack of progress on bringing inflation down.
The most recent US data signals along with expectations for a robust Nonfarm Payrolls report on Friday are unlikely to do much to change Powell’s mind on prices and the economy.

US Interest Rate prep article – Read Here

Docket
08:15 ET
US ADP Employment Change for April
Median Forecast: 180k | Prior: 184k | Range: 220k /  120k

08:30 ET
US Treasury Quarterly Refunding Announcement

09:45 ET
US S&P Manufacturing PMI Final for April
Median Forecast: 49.9 | Prior: 49.9 | Range: 50.3 / 48.9

10:00 ET
US ISM Manufacturing PMI for April
Median Forecast: 50 | Prior: 50.3 | Range: 51.5 / 48.5

US JOLTS Job Openings for March
Median Forecast: 8.69M | Prior: 8.756M | Range: 8.836M / 8.474M

10:30 ET
Weekly EIA Crude Oil Inventories for the week of April 26th
Median Forecast: -2.5M | Prior: -6.368M | Range: 1.5M / -4.572M

14:00 ET
US Interest Rate Decision
Median Forecast is for no change at 5.5%.

FOMC Rate Statement

Speakers
13:30 ET
ECB’s de Cos gives speech on monetary policy and inflation in London.

14:30 ET
FOMC Post Meeting Press Conference with Chair Powell
Video will be available here

16:10 ET
RBNZ News Conference following the Financial Stability report released last night.

16:15 ET
BoC’s Gov. Macklem & Senior Dep. Gov. Rogers speak to the Senate Banking Committee on banking, commerce and the economy.
Video will be available here

Good luck, Traders!