Morning Juice – US Session Prep (23rd December)

Sentiment
US stocks are holding steady after a strong run, as traders await the remaining economic data releases of 2025 to assess whether they could meaningfully alter expectations for interest-rate cuts.

The yen’s continued weakness against the dollar, even after the Bank of Japan raised its benchmark interest rate, has shifted market attention to potential actions by the Ministry of Finance should the currency slide further.

Gold climbed to a record high for the 50th time this year, supported by escalating geopolitical tensions and expectations for additional Fed rate cuts. Silver also rose to an all-time high.

Meanwhile, volatility skews in the euro and the pound have flattened, reflecting growing conviction that the dollar will weaken further during the final trading days of the year.

Docket
08:30 ET
US GDP QoQ Advance (2nd Est. 3Q)
Forecast 3.3%, Previous 3.8% Range 4.5% / 2.4%

Canadian GDP MoM (Oct)
Forecast -0.3%, Previous 0.2% Range -0.2% / -0.3%

US Durable Goods (Oct)
Forecast -1.5%, Previous 0.5% Range 1% / -4.5%

09:15 ET
US Industrial Production MoM
Forecast 0.1%, Previous 0.1% Range 0.5% / -0.4%

10:00 ET
US CB Consumer Confidence (Dec)
Forecast -91, Previous 88.7 Range 96.9 / 86.8

13:30 ET
BoC Meeting Minutes

Speakers
N/A

Good luck!