Morning Juice – US Session Prep

Morning, Traders!
It is Friday the 28th of March, here are some things to look out for today.

Sentiment
US stock futures fell, while gold set a new high, as investors focused on the Fed’s favoured inflation indicator and remained concerned about the long-term economic impact of the trade war.

According to median analyst expectations, the US core personal consumption expenditures price index is predicted to gain 0.3% in February, unchanged from the previous month.
With Trump threatening to impose so-called reciprocal tariffs next week, money managers say they’re going neutral, backing off, or de-risking their portfolios.

The spectre of tariffs has also rattled commodity markets this week.
Copper prices in London fell for a third day, dropping below $10,000 per tonne.
The metal is set for a weekly decrease after reports that the US government intends to impose tariffs on copper imports in weeks rather than months, as had been generally expected.

Docket
08:30 ET
US PCE for February
YoY – Forecast: 2.5% | Prior: 2.5% | Range: 2.5% / 2.4%
MoM – Forecast: 0.3% | Prior: 0.3% | Range: 0.4% / 0.2%
Core YoY – Forecast: 2.7% | Prior: 2.6% | Range: 2.8% / 2.5%
Core MoM – Forecast: 0.3% | Prior: 0.3% | Range: 0.4% / 0.1%

US Consumer Spending MoM for February
Forecast: 0.5% | Prior: -0.2% | Range: 0.8% / 0.2%

10:00 ET
University of Michigan Survey March Final
Sentiment – Forecast: 57.9 | Prior: 57.9 | Range: 64.7 / 55
1-Year Inflation – Forecast: 4.9% | Prior: 4.9% | Range: 5% / 4.3%
5-Year Inflation: Forecast: 3.9% | Prior: 3.9% | Range: 4% / 3.4%

Speakers
09:00 ET
ECB’s Nagel speaks in Frankfurt

12:15 ET
Fed’s Barr speaks on banking policy in a moderated Q&A.
No text is expected, but there will be a Q&A.

15:45 ET
Fed’s Bostic to moderate a panel on US housing finance policy at an event at the Atlanta Fed.
No text is expected, but there will be a Q&A.

Good luck!