Morning Juice – US Session Prep (1st October)

Sentiment
The DXY came under pressure amid worry that a US government shutdown will weigh on the economy. Treasuries hardly changed.

US stock futures and the dollar slipped as the first government shutdown in nearly seven years took effect, disrupting one of the nation’s largest employers and raising the risk of a temporary blackout in economic data.

Lawmakers missed a midnight funding deadline, setting off the government’s first shutdown in almost seven years — and the third during Trump’s presidency.

Bond traders are pouring millions into options bets that 10-year Treasuries are poised for a rally that could push yields down to five-month lows.

Gold climbed to a fresh record as the shutdown began, stoking turbulence and fueling concerns over delays to key economic releases.

Docket
08:15 ET
US ADP Employment Change for September
Forecast: 51k | Prior: 54k | Range: 80k / 25k

09:45 ET
US S&P Manufacturing PMI September Final
Forecast: 52 | Prior: 52 | Range: 52 / 51.8

10:00 ET
US ISM Manufacturing PMI for September
Forecast: 49 | Prior: 48.7 | Range: 50.4 / 48

10:30 ET
US Weekly EIA Crude Oil Inventories
Forecast: -0.05M | Prior: -0.607M | Range: 2M / -2.494M

13:30 ET
Bank of Canada Meeting Minutes

Speakers
12:15 ET
Fed’s Barkin speaks at University of North Carolina Wilmington Economic Outlook Conference  Barkin to repeat September 26th speech
Text and Q&A are expected. No livestream available.

13:00 ET
White Press Secretary Leavitt Speaks

14:05 ET
BoC’s Senior Deputy Governor Rogers speaks

16:30 ET
Trump Signs Executive Orders

17:00 ET
Fed’s Goolsbee Speaks on Marketplace

Good luck!