Morning Juice – US Session Prep

Morning, Traders!
It is Tuesday the 21st of May, here are some things to look out for today.

Sentiment
Global shares fell on Tuesday as investors stayed on the sidelines ahead of Nvidia’s results and a spate of Federal Reserve governors’ speeches.

Investors were vigilant as commodities prices for gold, silver, and copper hovered near all-time highs.
So far, the commodities spike has failed to undermine expectations that inflation would continue to fall, allowing the Federal Reserve and other major central banks to slash interest rates this year.

The key focus for markets right now is Nvidia, which has driven a significant portion of the S&P 500’s recent results. Nvidia’s stock, which has increased by more than 90% this year, climbed 2.5% in New York on Monday, bringing the Nasdaq 100 index to another new high.

Docket
08:30 ET
Canadian CPI for April
YoY – Median Forecast: 2.7% | Prior: 2.9% | Range: 2.9% / 2.6%
MoM – Median Forecast: 0.5% | Prior: 0.6% | Range: 0.7% / 0.4%

Speakers
09:00 ET
Fed’s Barkin gives welcome and opening remarks at the Richmond Fed’s Investing in Rural America conference. Text release is still to be determined, there will be no Q&A.
Event Details Here

Fed’s Waller speaks on his outlook for the US economy and monetary policy.
Text & Q&A are both expected.
Watch Here

09:05 ET
Fed’s Williams gives opening remarks at the 2024 Governance and Culture Reform Conference.
No text or Q&A are expected.
Event Details Here

09:10 ET
Fed’s Bostic offers brief welcome remarks on day 2 of the Atlanta Fed’s Financial Markets Conference.
Watch Here

11:45 ET
Fed Vice Chair for Supervision Barr will discuss the economy, lessons learned from the 2023 liquidity crisis, and regional banking supervision in a fireside chat at the 2024 Regional State Member Bank Director and Executive Conference.
No text is expected, though there will be a Q&A.
Watch Here

13:00 ET
Bank of England’s Governor Bailey delivers a lecture, in honor of London School of Economics Charles Goodhart, hosted by the Financial Markets Group
Register Here

Good luck!