Morning Juice – US Session Prep
Daily Dose, US

Morning Juice – US Session Prep

Good morning, Traders!
It is Monday, the 3rd of February. Here is what to expect for the day.


Sentiment
The Dollar rose and markets fell at the beginning of US tariffs going into effect, ushering in a trade war that threatens global economic development.

The Dollar index jumped as Trump announced tariffs on Canada, Mexico, and China, and warned that European taxes would follow. The Canadian Dollar dropped to its lowest level since 2003, as the Euro weakened.

Tariffs have a global impact. S&P 500 futures fell, while US oil prices rose on concerns about supply disruptions.
European auto shares plummeted, with Volkswagen and Stellantis losing more than 5%.
A general shift away from riskier assets weighed on cryptocurrency.

Tariffs on imports from Canada and Mexico threaten to destabilize North America’s tightly integrated oil system, raising petrol costs for Americans.
WTI rose 2.4%.
Petrol futures in New York increased by much as 6.2% on predictions that refiners will face higher costs.


Docket
09:45 ET
US S&P Manufacturing PMI January Final
Median Forecast: 50.1 | Prior: 50.1 | Range: 50.1 / 49.4

10:00 ET
US ISM Manufacturing PMI for January
Median Forecast: 49.9 | Prior: 49.3 | Range: 52.5 / 48.3

11:30 ET
US sells $84 bln 3-Month Bills
US sells $72 bln 6-Month Bills


Speakers
12:30 ET
Fed’s Bostic speaks in a moderated discussion on the Economic Outlook at the Rotary Club of Atlanta.
No text is expected, but there will be a Q&A


Good luck!