Morning Juice – US Session Prep (30th May)

Sentiment
The dollar edged higher, recovering the previous day’s losses, as traders turn to PCE inflation and Personal Spending data due later for a read of the US economy. Treasuries inched lower.

US stock futures declined as traders navigated renewed uncertainty about Trump’s tariff policies and their effect on the American economy.

The ceasefire in the tariff battle between the world’s two biggest economies is encouraging trade across the Pacific, holding up freight prices three weeks on, even as container bookings have started to slow down.

Tariff turmoil is bringing global investors back to Japan’s stock market, as prospects of better shareholder returns entice funds fleeing economic ambiguity in the US

Docket
08:30 ET
US PCE Price Index YoY Forecast 2.2%, Previous 2.3% Range 2.3% / 2.1%
US Core PCE Price Index YoY Forecast 2.5% Previous 2.6% Range 2.7% / 2.3%
US Core PCE Price Index MoM Forecast 0.1%, Previous 0% Range 0.2% / -0.1%
US PCE Price Index MoM Forecast 0.1%, Previous 0% Range 0.2% / -0.1%
Canadian GDP QoQ Annualized Forecast 1.65%, Previous 2.6% Range 2.1% / 1.4%
Canadian GDP MoM Forecast 0.1% Previous -0.2% Range 0.2% / 0%
US Consumer Spending MoM Forecast 0.2%, Previous 0.7% Range 0.4% / 0%

10 AM ET
University Michigan Sentiment Final Forecast 51.5, Previous 50.8 Range 56 / 50.5

Speakers
13:30 ET
Trump & Musk speak

16:45 ET
Fed’s Daly speaks in a panel conversation with Bloomberg TV’s Caroline Hyde at the 2025 Reagan National Economic Forum. Text: no. Q&A: yes.

17:00 ET
Trump speaks on US Steel

Good luck!