Morning Juice – US Session Prep
Morning, Traders!
It is Friday the 7th of February, here are some things to look out for today.
Sentiment
Stocks, bonds, and the Dollar swung in narrow ranges as traders anticipated the monthly US jobs report, which would help determine the course of interest rates.
S&P 500 futures were barely changed, putting the index on track for a 0.7% weekly gain.
Treasury 10-year yields remained at 4.43%.
In Europe, markets were on track for their longest weekly advances since March.
In other market developments, US Treasury Secretary Bessent stated that he supports a strong Dollar and does not intend to change the government’s debt-issuance plans.
During the electoral campaign. Trump expressed concern about the strength of the Dollar, which makes US products more expensive abroad.
Docket
08:30 ET
US Employment Situation for January
Nonfarm Payrolls – Median Forecast: 170k | Prior: 256k | Range: 240k / 105k
Unemployment Rate – Median Forecast: 4.1% | Prior: 4.1% | Range: 4.2% / 4%
Average Earnings YoY – Median Forecast: 3.8% | Prior: 3.9% | Range: 3.9% / 3.6%
Canadian Employment Data for January
Employment Change – Median Forecast: 25k | Prior: 90.9k | Range: 76.2k / 15k
Unemployment Rate – Median Forecast: 6.8% | Prior: 6.7% | Range: 6.8% / 6.6%
10:00 ET
University of Michigan Survey February Prelim
Sentiment – Median Forecast: 71.7 | Prior: 71.1 | Range: 73.2 / 69
1-Year Inflation – Median Forecast: 3.3% | Prior: 3.3% | Range: 3.4% / 3.1%
5-Year Inflation – Median Forecast: 3.2% | Prior: 3.2% | Range: 3.2% / 3%
Speakers
09:25 ET
Fed’s Bowman gives a brief economic update and speaks on bank regulation at a conference hosted by the Wisconsin Bankers Association.
Text is expected, but no Q&A.
12:00 ET
Fed’s Kugler speaks on entrepreneurship and aggregate productivity at the 2025 Miami Economic Forum.
Text and Q&A are expected.
Good luck, and have a good weekend!
