Morning Juice – US Session Prep (10th July)

Sentiment
The dollar fell against most of its G10 peers after Trump announced that the US government would implement a 50% tariff on copper starting August 1st. Treasuries edged lower, as did US stock futures.

The copper tariff is in addition to country-by-country tariffs that the White House is finalising with dozens of its largest trade partners, also set to take effect on August 1st.

Docket
08:30 ET
US Initial Jobless Claims Forecast 235k, Previous 233k Range 245k / 225k
US Continued Jobless Claims Forecast 1.965M, Previous 1.964M Range 1.985M / 1.925M

Speakers & Events
09:00 ET
Fed’s Musalem speaks at event hosted by the Official Monetary and Financial Institutions Forum. Text: TBD Q&A: yes

11:00 ET
BoE’s Breeden text release

13:15 ET
Fed’s Waller speaks at event hosted by Dallas Fed.

13:45 ET
BoE’s Breeden delivers a speech as part of the annual Chapman Barrigan lecture series on “Weathering the Storm Stability in a Changing Climate.” text to be released 11 AM ET

14:30 ET
Fed’s Daly speaks on the US economic outlook and challenges for policymakers in an event hosted by MNI. Text: No Q&A: Yes