Morning Juice – US Session Prep

Good morning, Traders!
It is Thursday the 22nd of February and here is what to look out for today.

Sentiment
The dollar dropped as Nvidia’s stronger strong revenue expectations boosted risk sentiment, cooling demand in safe-haven assets.

The promise of big tech investment in the form of the CHIPs Act yesterday further added to the bullish mood in premarket trade this morning.

Docket
08:30 ET
US Weekly Jobless Claims
Initial – Median Forecast: 216K | Prior: 212K | Range: 225K / 205K
Continued – Median Forecast: 1.885M | Prior: 1.895M | Range: 1.91M / 1.8M

Canadian Retail Sales for December
MoM – Median Forecast: 0.8% | Prior: -0.2% | Range: 1.4% / 0.4%
Core MoM – Median Forecast: 0.7% | Prior: -0.5% | Range: 1.4% / 0.1%

09:45 ET
US S&P PMI February Flash
Manufacturing – Median Forecast: 50.5 | Prior: 50.7 | Range: 51.4 / 50
Services – Median Forecast: 52.4 | Prior: 52.5 | Range: 53 / 51.5
Composite – Median Forecast: 51.8 | Prior: 52 | Range: 52.3 / 50.1

10:00 ET
US Existing Home Sales for January
Median Forecast: 3.97M | Prior: 3.78M | Range: 4.1M / 3.75M

11:00 ET
Weekly EIA Crude Oil Inventories
Median Forecast: 3.75M | Prior: 12.018M | Range: 5.947M / 2.3M

13:00 ET
US sells $9 bln in 30-Year TIPS at Auction

Speakers
10:00 ET
Fed’s Jefferson gives remarks and sits for Q&A session at Peterson Institute for International Economics event.
Both text and Q&A are expected.
Watch Here

13:00 ET
Fed’s Bowman speaks at the Exchequer Club luncheon in Washington, D.C.
No text but a Q&A is expected.

15:15 ET
Fed’s Harker gives speech on economic outlook in Newark, Delaware.
Both text and Q&A are expected.

17:00 ET
Fed’s Cook delivers a keynote address at a Princeton University conference on “Macrofinance in the Long Run: New Insights on the Global Economy.”
Watch Here

Fed’s Kashkari participates in a panel discussion focused on economic trends and outlook for 2024 and the growth of Minnesota’s economy.
Watch Here

Good luck!