Morning Juice – US Session Prep (9th January)

Sentiment
The dollar rose alongside Treasury yields as investors positioned ahead of Friday’s US payrolls report and a potential Supreme Court ruling on President Donald Trump’s tariffs. The greenback touched a one-month high and was on track for its strongest weekly gain since November, while US stock futures traded mixed.

The Supreme Court’s decision will hinge on whether there is a clear path to preserving past and future tariff revenues, a factor that would be supportive for the dollar, Englander, head of global G10 FX research at Standard Chartered, wrote in a client note.

Docket
8:30 ET
December Data
US Nonfarm Payrolls Forecast 70k, Previous 64k Range 155k / 23k
US Unemployment Rate Forecast 4.5%, Previous 4.6% Range 4.7% / 4.3%
US Average Earnings YoY Forecast 3.6%, Previous 3.5% Range 3.7% / 3.4%
US Private Payrolls Forecast 75k, Previous 69k Range 120k / 35k

December Data
Canadian Employment Change Forecast -2.5k,  Previous 53.6k Range 34.3k / -16.3k
Canadian Unemployment Rate Forecast 6.7%, Previous 6.5% Range 6.7% / 6.6%

10:00 ET
January Prelim Data
University Michigan Sentiment Prelim Forecast 53.5, Previous 52.9 Range 55.1 / 52

Speakers
10:00 ET
Fed’s Kashkari gives opening remarks at 2026 Regional Economic Conditions Conference. Text: No Q&A: No

Supreme Court Opinion on Tariffs (Tentative)

12:00 ET
Fed’s Bostic interview on WLRN Public Media. Text; No Q&A: Yes, with moderator

13:35 ET
Fed’s Barkin repeats speech on eco outlook. Text and Q&A expected

14:00 ET
Trump meets oil executives

GoodLuck!