Morning Juice – US Session Prep (8th January)

Sentiment
Treasuries are trading mixed, with shorter-dated bonds posting modest gains and slightly outperforming European peers, while longer maturities are falling. Meanwhile, the dollar is extending gains for a third session as fresh US economic data comes in.

AUD/USD fell 0.3% to 0.6698 after Hauser said the RBA is taking a one to two year view on inflation rather than reacting to individual data releases.

The yuan rose by the most in a week as onshore dollar selling picked up, shrugging off a weaker fixing by the PBOC.

The yen, Swiss franc and the dollar traded firm as the MSCI Asia Pacific Index fell almost 1%.

Docket
8:30 ET
Weekly US Initial Jobless Claims
Forecast: 212k | Prior: 199k |Range: 230k / 197k
US Continued Jobless Claims Forecast 1.9M, Previous 1.866M |Range 1.95M / 1.786M

(Q3) US Productivity Prelim Forecast 5%, Previous 3.3% |Range 6.1%/3%
(Q3) US Unit Labor Costs Prelim Forecast -0.1%, Previous 1% |Range 1.2%/-4.3%

US Trade Balance for October
Forecast: -$58.7b | Prior: -$52.8b |Range: -$49.7b / -$70.5b

Canadian Trade Balance for October
Forecast: -1.50b | Prior: 0.15b | Range: -0.61b / -2b

Speakers
08:00 ET
Fed’s Miran speaks on Bloomberg TV

10:00 ET
Fed’s Miran speaks at the Delphi Economic Forum. Text: TBD. Q&A: Yes

10:15 ET
Trump participates in a Photo Opportunity with United States Attorneys

GoodLuck!