Morning Juice – US Session Prep (8th August)

Sentiment
The DXY edged higher, with the dollar up against most of its G10 peers, though it continued on track for a 0.6% decline this week. With a lack of new US economic releases on Friday, focus will switch to a raft of data next week, including CPI, PPI and retail sales.

A US move to put tariffs on imports of 1 kg and 100-ounce gold bars is releasing fresh turmoil in the global bullion market and threatening to upset trade flows from Switzerland and other key refining hubs.

Trump’s step to fill up a slot at the Fed on a temporary basis offers him a chance to place an ally at the central bank, while giving him more time to weigh an even larger decision: who will be the next Fed Chair.

Docket
08:30 ET
Canadian Employment Data for July
Employment Change – Forecast: 10k | Prior: 83.1k | Range: 67.5k / -5k
Unemployment Rate – Forecast: 7% | Prior: 6.9% | Range: 7% / 6.8%

Speakers
10:20 ET
Fed’s Musalem participates fireside chat at event hosted by Mississippi Valley State University: Financial Well-being in the Delta: A Conversation on Banking, Credit and Small Business
Text and Q&A are both expected.

Good luck, and have a good weekend!