Morning Juice – US Session Prep

Morning, Traders!
It is Thursday the 11th of July, the day of the much anticipated US inflation report.
Here are some things to look out for today.

Sentiment
US equity-index futures remained steady on Thursday as traders waited for inflation data to confirm that bets on Federal Reserve interest rate cuts are justified.

Contracts on the S&P 500 and Nasdaq 100 were little changed after the underlying gauges both rose more than 1% to new all-time highs, boosted by Nvidia and Apple.
Fed Chair Jerome Powell told Congress on Wednesday that the central bank does not need inflation to fall below 2% before cutting interest rates, and that the labour market has cooled “pretty significantly.”

Docket
08:30 ET
US CPI for June
YoY – Median Forecast: 3.1% | Prior: 3.3% | Range: 3.5% / 3%
MoM – Median Forecast: 0.1% | Prior: 0% | Range: 0.2% / 0%
Core YoY – Median Forecast: 3.4% | Prior: 3.4% | Range: 3.5% / 3.2%
Core MoM – Median Forecast: 0.2% | Prior: 0.2% | Range: 0.3% / 0.1%

US CPI Prep Article – Read Here

11:30 ET
US sells $90 bln 4-Week Bills

13:00 ET
US sells $22 bln 30-Year Bonds

Speakers
11:15 ET
Fed’s Bostic speaks about economic inclusion in a moderated conversation at the National Credit Union Administration’s Diversity, Equity, and Inclusion (DEI) Summit.
No text is not expected, but there is a Q&A.

13:00 ET
Fed’s Musalem answers questions on the US economy and monetary policy in Little Rock, Arkansas.
No text is not expected, but there is a Q&A.

Good luck!