Morning Juice – US Session Prep (29th July)

Sentiment
Treasuries slipped as Brent crude climbed after the US and Iran resumed missile strikes, with traders also awaiting the Federal Reserve’s policy decision for signals on the rate path.

Swaps now price around a 30% chance of a rate hike, with a full 25 BPS move priced for September.

Brent rose to $87 after Iran targeted American forces overnight and the US and Saudi Arabia struck Tehran-backed militias in Iraq.

Docket
10:30 ET
Weekly EIA Crude Oil Inventories
Forecast: 1M | Prior: 2.010M | Range: 2.639M / -1.755M

13:30 ET
BoC Meeting Minutes

14:00 ET
US Interest Rate Decision and Rate Statement
Forecast: 3.75% | Prior: 3.75%

Speakers & Events
14:30 ET
FOMC Press Conference With Fed Chair Warsh

15:00 ET
Trump makes an Announcement with the Secretary of Transportation

Earnings
16:00 ET
Meta Q2 2026 Earnings
Estimated Revenue: $60.23B
Estimated EPS: $9.11

Qualcomm Q3 2026 Earnings
Estimated Revenue: $9.63B
Estimated EPS: $2.21

16:05 ET
Starbucks Q3 2026 Earnings
Estimated Revenue: $9.16B
Estimated EPS: $0.65

16:10 ET
Microsoft Q4 2026 Earnings
Estimated Revenue: $87.72B
Estimated EPS: $4.25

Good Luck!