Morning Juice – US Session Prep (10th October)

Sentiment
The dollar declined against the yen after Japan’s governing coalition collapsed. Treasuries inch up, backed by the view that the Fed will cut rates this month. Investors await a reading of consumer sentiment, while Fed policymakers Goolsbee and Musalem deliver speeches.

US index futures and European stocks steadied at the close of a volatile week dominated by questions over how long the blistering global equity rally can last.

The first week of a government shutdown is typically the easy part — it only becomes tougher from there. As the standoff between Trump and Congress drags into a second week with no resolution in sight, the real-world fallout from the shutdown is starting to build.

French markets have largely recovered from the turbulence of this week’s political turmoil, just hours before President Macron is set to appoint a new prime minister.

Investor sentiment toward the euro has rarely soured this quickly since the summer of 2022.

Docket
8:30 ET
Canadian Employment
Change – Forecast: 5K | Prior: -65.5K | Range: 20K / -50K
Rate – Forecast: 7.2% | Prior: 7.1% | Range: 7.2% / 7.1%

10:00 ET
University of Michigan Sentiment
Prelim – Forecast: 54 | Prior: 55.1 | Range: 56.4 / 51

Speakers
9:45 ET
Feds Goolsbee speaks at the Reserve Bank’s 19th Annual Community Bankers Symposium
Q&A – No Text – TBD

13:00 ET
Feds Musalem speaks in a fireside chat about the US economy and monetary policy at the Springfield Area Chamber of Commerce
Q&A – Yes from the audience. Text – No

17:00 ET
Trump makes an Announcement

Good Luck!