Morning Juice – US Session Prep (14th January)
Sentiment
USD/JPY slipped about 60 pips to an intraday low in quick trading after a report that Japan’s CDP and Komeito are in talks about forming a new party. Such an outcome could threaten the LDP and Ishin alliance and reduce expectations for a more fiscally expansionary government, which markets treated as yen supportive. However, the numbers in the lower house make that outcome unlikely, helping explain why the move faded.
US stock futures pointed to the first back-to-back losses of 2026 as traders watched for a US response to the protests in Iran. Metals climbed to all-time highs.
Docket
08:30 ET
US PPI for November
YoY – Forecast: 2.7% | Prior: 2.7% | Range: 3.1% / 2.5%
MoM – Forecast: 0.2% | Prior: 0.3% | Range: 0.4% / 0.1%
Core YoY – Forecast: 2.7% | Prior: 2.6% | Range: 3% / 2.4%
Core MoM – Forecast: 0.2% | Prior: 0.1% | Range: 0.4% / 0.1%
US Retail Sales for November
MoM – Forecast: 0.5% | Prior: 0% | Range: 0.8% / 0.2%
Core MoM – Forecast: 0.4% | Prior: 0.4% | Range: 0.8% / 0%
10:30 ET
US Weekly EIA Crude Oil Inventories
Forecast: -1.682M | Prior: -3.832M | Range: 3M / -6.072M
Speakers
09:50 ET
Fed’s Paulson speaks on the economic outlook at the Chamber of Commerce for Greater Philadelphia Kimmel Center for the Performing Arts.
Text: yes, Q&A: no
10:00 ET
Fed’s Miran speaks on regulations, the supply side and monetary policy at the Delphi Economic Forum National Gallery Alexandros Soutsos Museum Leof.
Text: TBD, Q&A: yes
Supreme Court Opinion on Tariffs (Tentative)
10:30 ET
BoE’s Ramsden speaks on the bank resolution regime.
A text will be released.
12:00 ET
Fed’s Kashkari speaks in a virtual town hall with the Wisconsin Bankers Association.
Fed’s Bostic will participate in a moderated discussion with David Rubinger, market president and publisher of the Atlanta Business Chronicle.
Text: no, Q&A: yes, with moderator.
14:00 ET
Trump participates in a signing ceremony
14:10 ET
Fed’s Williams delivers opening remarks at the NY Fed’s annual “An Economy That Works for All” event.
Text and Q&A: No.
Good luck!
