Morning Juice – US Session Prep

Morning, Traders!
It is Tuesday the 18th of February, the first trading day this week following the holiday-extended weekend.
Here are some things to look out for today.

Sentiment
S&P 500 and Nasdaq 100 contracts rose after Monday’s holiday.
In Europe, the Stoxx 600 index held near record highs, with defense stocks rallying further on expectations that governments will have to ratchet up military spending.
A gauge of emerging-market equities hit a three-month high.

The war in Ukraine continues to dominate markets in Europe as traders await details on new defense funding measures and officials the region fume after being excluded from US-Russia talks in Saudi Arabia.
New measures are due to be presented in time for an upcoming March 20-21 summit, according to Polish Prime Minister Tusk.

Treasuries, reopening after a public holiday, saw yields tick higher, while the dollar advanced against Group-of-10 peers.
The Australian dollar steadied after an earlier fall, as the central bank lowered rates but warned the move did not imply further cuts along the lines markets are pricing.

In commodities, gold extended gains to trade around $2,910 an ounce after Goldman Sachs analysts raised their year-end gold target to $3,100.
Prices for the precious metal are up almost 11% so far this year.

Docket
08:30 ET
Canadian CPI for January
YoY – Median Forecast: 1.9% | Prior: 1.8% | Range: 2.2% / 1.5%
MoM – Median Forecast: 0.1% | Prior -0.4% | Range: 0.3% / -0.1%

11:30 ET
US sells $80 bln 3-Month Bills
US sells $70 bln 6-Month Bills

13:00 ET
US sells $48 bln 52-Week Bills

Speakers
09:00 ET
ECB’s Cipollone speak at an MNI Livestreamed Connect on ‘ECB’s balance sheet and its implications for monetary policy’

10:20 ET
Fed’s Daly gives prepared remarks followed by a moderated discussion at the 2025 Conference for Community Bankers, hosted by the American Bankers Association. Text and Q&A are expected.

13:00 ET
Fed Vice Chair for Supervision Barr talks about the potential impacts of artificial intelligence on financial stability and the regulatory considerations surrounding it at an event hosted by the Council on Foreign Relations.
Text and Q&A are expected.

Good luck!