Morning Juice – US Session Prep
Morning, Traders!
Happy Friday! It is the 28th of June, the last US trading day of the month, and today we see the release of a much-anticipated inflation report.
Here is what to look out for today.
Sentiment
A gauge of the US dollar’s strength fell as traders awaited the release later Friday of an inflation reading preferred by Fed officials.
According to median analyst estimates, economists expect both headline and core measures to slow from the previous month.
US equity futures rose as investors shifted their focus from the presidential debate to upcoming price data that could strengthen the case for lower interest rates.
S&P 500 and Nasdaq 100 contracts advanced this morning.
Both indexes are on track for a third quarter of gains, with expectations that signs of slowing economic growth will give the Federal Reserve more room to loosen policy this year.
Docket
08:30 ET
US PCE for May
YoY – Median Forecast: 2.6% | Prior: 2.7% | Range: 2.7% / 2.4%
MoM – Median Forecast: 0% | Prior: 0.3% | Range: 0.2% / -0.1%
Core YoY – Median Forecast: 2.6% | Prior: 2.8% | Range: 2.7% / 2.4%
Core MoM – Median Forecast: 0.1% | Prior: 0.2% | Range: 0.2% / 0%
US Consumer Spending for May
Median Forecast: 0.3% | Prior: 0.2% | Range: 0.5% / 0.1%
Canadian GDP MoM for April
Median Forecast: 0.3% | Prior: 0% | Range: 0.4% / 0.1%
10:00 ET
University of Michigan June Final Survey
Sentiment – Median Forecast: 66 | Prior: 65.6 | Range: 76 / 64.9
1-Year Inflation Expectations – Median Forecast: 3.2% | Prior: 3.3% | Range: 3.3% / 3%
5-Year Inflation Expectations – Median Forecast: 3.1% | Prior: 3.1% | Range:
11:00 ET
Fed Monetary Policy Report
Speakers
08:40 ET
Fed’s Daly speaks on CNBC
12:00 ET
Fed’s Bowman participates in moderated conversation.
No text is expected, but there will be a Q&A.
12:40 ET
Fed’s Daly speaks in a moderated discussion on the impact of AI on business and the workforce.
No text is expected, but there will be a Q&A.
Good luck!
