Morning Juice – US Session Prep
Morning, Traders!
Happy Friday! Here are some things to look out for today.
Sentiment
The dollar rose against the yen after after BoJ Governor Ueda said parliament officials would respond to a sharp rise in bond yields with nimble asset purchases. Treasuries inched up.
The yen declined the most in more than a week against the greenback, after Bank of Japan’s comments on asset purchases.
German conservative frontrunner Friedrich Merz and Social Democrat Chancellor Scholz made their final pitches to breakfast television viewers on Friday, with polls showing Merz solidly on course for victory in Sunday’s election.
Gold headed for an eighth consecutive weekly advance on robust haven demand fueled by geopolitical and trade tensions.
Trump and his economic team are increasingly focusing on the revenues his tariffs would generate as he seeks to get tax cuts through Congress, pointing to an ominous path ahead for countries trying to avoid a trade war.
Docket
08:30 ET
Canadian Retail Sales MoM for December
Median Forecast: 1.6% | Prior: 0% | Range: 1.8% / -0.2%
09:45 ET
US S&P February Prelim PMIs
Manufacturing – Median Forecast: 51.4 | Prior: 51.2 | Range: 52 / 50.5
Services – Median Forecast: 53 | Prior: 52.9 | Range: 55 / 52.5
10:00 ET
University of Michigan February Final Survey
Sentiment – Median Forecast: 67.8 | Prior: 67.8 | Range: 72 / 65
1-Year Inflation Expectations – Median Forecast: 4.3% | Prior: 4.3% | Range: 4.3% / 4%
5-Year Inflation Expectations – Median Forecast: 3.3% | Prior: 3.3% | Range: 3.3% / 3.2%
US Existing Home Sales for January
Median Forecast: 4.13M | Prior: 4.24M | Range: 4.46M / 4M
Speakers
09:30 ET
ECB’s Lane gives a speech at FIW-Research Conference on International Economics in Vienna
11:30 ET
Fed’s Daly gives opening remarks, and Fed’s Jefferson speaks on central bank communication at an event at the San Francisco Fed. Daly will moderate.
Text and Q&A are both expected.
12:30 ET
BoC’s Governor Macklem speaks in Mississauga.
14:10 ET
BoC’s Governor Macklem gives a press conference.
Good luck, and have a good weekend!
