Morning Juice – US Session Prep (27th June)

Sentiment
The dollar stabilized after four straight sessions of losses, but continued on track to post its biggest weekly drop in more than a month. Traders are focused on the release of the Fed’s preferred measure of inflation due later Friday.

Iran denied that nuclear talks with the US are scheduled to resume, diminishing prospects for diplomacy after Trump suggested a deal could come as early as next week.

China said it has further confirmed details of a trade framework with the US in recent days, echoing US Commerce Secretary Lutnick’s earlier comments about a US-China agreement.

Docket
08:30 ET
US PCE Price Index YoY Forecast 2.3%, Previous 2.1% Range 2.3 / 2.2%
US Core PCE Price Index MoM Forecast 0.1%, Previous 0.1% Range 0.2% / 0%
US PCE Price Index MoM Forecast 0.1%, Previous 0.1% Range 0.2% / 0%
US Core PCE Price Index YoY Forecast 2.6%, Previous 2.5% Range 2.7% / 2.4%
Canadian GDP MoM Forecast 0%, Previous 0.1% Range 0.1% / -0.2%
US Consumer Spending MoM Forecast 0.1%, Previous 0.2% Range 0.4% / -0.3%
US Personal Income MoM Forecast 0.3%, Previous 0.8% Range 0.6% / -0.2%

10:00 ET
University Michigan Sentiment Final Forecast 60.5, Previous 60.5 Range 62 / 57.8
University Michigan 5 Yr Inflation Final Forecast 4.1%, Previous 4.1% Range 4.1% / 4.2%
University Michigan 1 Yr Inflation Final Forecast 5.2%, Previous 5.1% Range 5.3% / 5%

Speakers & Events
08:00 ET
ECB’s Rehn interviews Nobel laureate Simon Johnson

09:15 ET
Fed’s Hammack & Cook speak at Fed Listens Event on housing, workforce and economic development at Cleveland Fed. No text. Q&A expected

12:00 ET
ECB’s Cipollone speaks at BIS Annual General Meeting. Text expected

15:00 ET
Trump participates in a visit with the Foreign Ministers of the Democratic Republic of the Congo and the Republic of Rwanda