Morning Juice – US Session Prep (25th July)

Sentiment
The dollar rose, extending Thursday’s gains, as investors took stock of Trump’s comments that firing Fed’s Powell wasn’t necessary. European government bonds declined as traders pared wagers on further monetary easing, with banks including Goldman Sachs abandoning calls for one more cut.

Trump downplayed his clash with Fed’s Powell over cost overruns during a tour of the central bank’s renovation project on Thursday, making it clear that he saw the issue of lower interest rates as a more pressing issue.

There’s little reason for the ECB to lower interest rates further unless the economy suffers a major blow, according to Governing Council member Kazaks.

BoJ officials see the possibility of considering another rate hike this year after the US and Japan struck a trade deal this week, according to people familiar with the matter.

Docket
08:30 ET
US Durable Goods June Prelim
Forecast: -10.7% | Prior 16.4% | Range: -4.9% / -14.9%

Good luck!