Morning Juice – US Session Prep

Good morning, traders! It is Friday, the 24th of January, and today’s schedule is extremely light with a few PMI’s and Sentiment surveys; nevertheless, here’s what to expect:

Sentiment

Treasuries slightly richer led by short maturities, extending Thursday’s pronounced steepening of 2sl0s curve, after US President Trump appeared to soften his approach toward tariffs on China. US stock-index futures slipped after the S&P 500 notched another record high on signs President Trump might take a softer approach toward tariffs on China. The dollar fell. US Treasuries edged up ahead of US manufacturing and services readings later in the day.

Docket

9:45 AM EST 
US S&P Services PMI Flash – Median Forecast: 56.5 | Prior: 56.8 | Range: 57.2/53
US S&P Manufacturing PMI Flash – Median Forecast: 49.8 | Prior: 49.4 | Range: 50.4/48.4
US S&P Composite PMI Flash – Median Forecast: 55.6 | Prior: 55.4 | Range: 56/55.1

10:00 AM EST
University Michigan Sentiment Final – Median Forecast: 73.2 | Prior: 73.2 | Range: 74.5/72
UMICH 1 Yr Inflation Final – Median Forecast: 3.2% | Prior: 3.3% | Range: 3.3%/3.1%
UMICH 5 Yr Inflation Final – Median Forecast: 3.2% | Prior: 3.3% | Range: 3.2%/3.1%

US Existing Home Sales – Median Forecast: 4.2M | Prior: 4.15M | Range: 4.3M/4M
Existing Home Sales change – Median Forecast: 1.2% | Prior: 4.8% | Range: 3.6%/-3.6%

Good luck and happy Friday!