Morning Juice – US Session Prep (7th August)

Sentiment
The dollar declined against most major peers, continuing losses for a 5th straight day, ahead of Jobless Claims. A sale of 30-Yr Treasuries will be in focus after an auction of 10-Yr notes drew weak demand on Wednesday.

The BoE cut rates as expected, but 4 MPC members, rather than 2, voted to keep rates on hold, leading the pound to strengthen. It was also the first time the MPC voted twice, highlighting the uncertainty surrounding the economy and mix of views. Traders pared BoE easing bets, seeing 17 BPS more cuts this year.

Putin and Trump will meet for summit talks within the next few days, the Kremlin said Thursday.

Japan reduced its growth outlook for the current fiscal year as US tariffs and persistent inflation weigh on the economy, complicating the policy course of the BoJ and adding to pressure on embattled PM Ishiba.

Docket
08:30 ET
US Weekly Jobless Claims
Initial Claims – Forecast: 222k | Prior: 218k | Range: 225k / 215k
Continued Claims – Forecast: 1.95M | Prior: 1.946M | Range: 1.957M / 1.935M

11:00 ET
NY Fed Inflation Expectations

13:00 ET
US sells $25 bln 30-Year Bonds

Speakers
09:00 ET
ECB’s Rehn speaks with Lord Mervyn King at a seminar in Mikkeli, Finland.
The discussion centers on Risto Ryti, a former president of Finland and central banker.

10:00 ET
Fed’s Bostic appears in virtual fireside chat on monetary policy with the Florida Institute of CFOs.
No text is expected, but there is a Q&A.

12:00 ET
Trump signs Executive Orders

16:00 ET
Trump delivers remarks

Good luck!