Morning Juice – US Session Prep

Morning, Traders!
It is Tuesday the 18th of March, here are some things to look out for today.

Sentiment
Wall Street was set to resume its slide, and gold reached new highs as concerns about the economy and developments in Gaza and Ukraine soured sentiment.

Futures for the S&P 500 and Nasdaq 100 fell at least 0.2% as Russian President Vladimir Putin was reported to be demanding a suspension of all weapons deliveries to Ukraine during a ceasefire proposed by Donald Trump.
Meanwhile, Israel violated a nearly two-month cease-fire with Hamas by launching airstrikes on Gaza.
These developments fuel concerns that the US economy is losing steam as a result of Trump’s trade and labour policies.

Oil prices rose for the third consecutive day, while gold prices rose above $3,000 per ounce and gold exchange-traded funds saw a fifth day of inflows.

The tone in Europe was more upbeat, with the Stoxx 600 index rising.
Investors were focused on the prospect of Germany increasing spending by hundreds of billions of euros as the country’s parliament prepared to vote on a landmark fiscal bill.
The plan, which is expected to boost economic growth across Europe, sent the euro to a new five-month high.
A positive economic sentiment survey in Germany boosted optimism about Europe.

European equities are extending their year-to-date lead over Wall Street, with a Bank of America monthly survey indicating that investors’ weighting of European stocks has reached a mid-2021 high.
In contrast, US allocations have fallen by a record amount in recent weeks.

Docket
08:30 ET
US Housing Starts for February
Forecast: 1.381M | Prior: 1.366M | Range: 1.46M / 1.3M

Canadian CPI for February
YoY – Forecast: 2.2% | Prior: 1.9% | Range: 2.7% / 2%
MoM – Forecast: 0.6% | Prior: 0.1% | Range: 1.1% / 0.2%

09:15 ET
US Industrial Production for February
Forecast: 0.2% | Prior: 0.5% | Range: 0.5% / -0.3%

11:30 ET
US sells $48 bln 52-Week Bills

13:00 ET
US sells $13 bln 20-Year Bonds

Speakers
10:00 ET
Nvidia CEO speaks at the GTC AI Summit.

12:40 ET
ECB’s Villeroy Speaks

15:30 ET
Trump Signs Executive Orders

Good luck!