Morning Juice – US Session Prep

Morning, Traders!
It is Monday the 1st of July, here are some things to look out for today.

Sentiment
European stocks recovered from a four-day losing streak, and the euro strengthened, as investors saw the French election results as a sign that the country could be headed for political gridlock.

Traders interpreted the first round of voting as indicating that Marine Le Pen’s far-right party faces a more difficult path to an absolute majority, implying that policymakers have a lower chance of enacting extreme policies that would rattle financial markets. The 10-year spread between French and German debt fell to a two-week low.

S&P 500 and the dollar little changed premarket, ahead of data this morning that will give insights into the US manufacturing sector.

Docket
09:45 ET
US S&P Manufacturing PMI June Final
Median Forecast: 51.7 | Prior: 51.7 | Range: 51.8 / 51.7

10:00 ET
US ISM Manufacturing PMI for June
Median Forecast: 49.2 | Prior: 48.7 | Range:: 50 / 48.2

11:30 ET
US sells $73 bln 3-Month Bills
US sells $70 bln 6-Month Bills

Speakers
08:15 ET
ECB’s Nagel gives a virtual speech on ‘Paving Germany’s growth path with investments: removing obstacles, facilitating financing’ at the Frankfurt Finance Summit.

15:00 ET
ECB’s President Lagarde speaks in Sintra.

Good luck!