Morning Juice – US Session Prep
Good morning, Traders!
It is Friday, the 31st of January. Here is what to expect for the day.
Sentiment
The dollar rose ahead of Trump’s weekend tariff announcement after he reaffirmed tariffs of 25% on Mexico and Canada last night, and said a China sanctions package was in the works last night.
Nasdaq 100 futures and S&P 500 contracts rose.
Apple and Intel both surged more than 2% in premarket trading, capping off a turbulent week for technology following earnings reports last night
With Trump preparing to impose his first wave of tariffs on Canada and Mexico on Saturday, a gauge of dollar strength was on track for its strongest week since mid-November.
Treasuries sank on estimates that future levies would boost inflation and keep interest rates high, while implied volatility for the Canadian dollar and Mexican peso indicated wild swings ahead.
Meanwhile, reports from some of the largest technological businesses in the United States show that they are strong enough to overcome concerns about increased competition.
Big tech results have dominated headlines this week after Chinese upstart DeepSeek rattled up markets with its lower-cost AI strategy.
Docket
08:30 ET
US PCE Price Index for December
YoY – Median Forecast: 2.6% | Prior: 2.4% | Range: 2.7% / 2.4%
MoM – Median Forecast: 0.3% | Prior: 0.1% | Range: 0.4% / 0.2%
Core YoY – Median Forecast: 2.8% | Prior: 2.8% | Range: 2.9% / 2.7%
Core MoM – Median Forecast: 0.2% | Prior: 0.1% | Range: 0.2% / 0.1%
US Consumer Spending MoM for December
Median Forecast: 0.5% | Prior: 0.4% | Range: 0.7% / 0.4%
Canadian GDP MoM for November
Median Forecast: -0.1% | Prior: 0.3% | Range: 0.2% / -0.1%
Speakers
08:30 ET
Fed’s Bowman givers brief remarks on the economy and her perspective on mutual and community banks at the Northern New England CEO Summit.
Text is expected, no Q&A.
10:30 ET
ECB’s Villeroy speaks.
Good luck!
