Morning Juice – US Session Prep (26th June)
Sentiment
The dollar reversed previous gains as month- and quarter-end movements dominated an otherwise quiet market. Treasury yields fell in response to decreased oil prices. USD/JPY fell 0.2% to 161.54 as the yen remained near its weakest level since 1986, fueling speculation of market intervention by Japanese authorities. EUR/USD regained the 1.14 handle as it met month-end support. Technology stocks once again dragged global indexes down, with increased selling in semiconductor manufacturers and a possible delay in OpenAI’s public debut dampening the mood. Oil prices resumed their downward trend.
An attack on a container vessel passing through the Strait of Hormuz has forced some shipowners to reconsider their exit strategies, although traffic continued to flow in both directions through the critical highway on Friday.
Investors pulled money out of US equities for the first time in three months, with huge withdrawals from tech funds indicating that the artificial-intelligence trade is cooling.
Docket
10:00 ET
University of Michigan Survey June Final
Sentiment – Forecast: 50 | Prior: 48.9 | Range: 53 / 48.9
1-Year Inflation – Forecast: 4.6% | Prior: 4.6% | Range: 4.9% / 4.1%
5-Year Inflation – Forecast: 3.3% | Prior: 3.4% | Range: 3.6% / 3.2%
Speakers
11:30 ET
Fed’s Kashkari [FOMC Voting member] participates in a panel at the Aspen Ideas Festival
12:00 ET
ECB’s Vujcic joins a panel discussion on climate change at Workshop on Micro and Macro Productivity Challenges in Times of Structural Shifts, organised by Banco de Portugal in Lisbon in cooperation with the OECD, and IWH-CompNet, Portugal.
13:00 ET
Trump delivers Remarks at the Faith & Freedom Coalition’s 2026 Policy Conference
4:30 ET
Trump participates in Signing Time
(Closed Press)
Good luck!
