Morning Juice – US Session Prep

Morning, Traders!
It is Friday the 7th of June, the day of the much anticipated US Nonfarm Payrolls employment report.
Here are some things to look out for today.

Sentiment
A global equity rally faltered ahead of key US jobs data, which could cement bets on when the Federal Reserve will begin to ease monetary policy.

While traders were wary of placing large bets this morning, global stocks are poised to end a two-week losing streak.
Rate-cut expectations have risen in the last week, boosted by a slew of weaker-than-expected US data, as well as easing by the Bank of Canada and the European Central Bank.

Docket
08:30 ET
US Employment Situation for May
Nonfarm Payrolls – Median Forecast: 185k | Prior: 175k | Range: 258k / 120k
Unemployment Rate – Median Forecast: 3.9% | Prior: 3.9% | Range: 4% / 3.8%
Average Earning YoY – Median Forecast: 3.9% | Prior: 3.9% | Range: 4% / 3.8%

For a prep article on this report, click here

Canadian Employment Situation for May
Employment Change – Median Forecast: 25k | Prior: 90.4k | Range: 96.2k / -5k
Unemployment Rate – Median Forecast: 6.2% | Prior: 6.1% | Range: 6.3% / 6%

Speakers
10:15 ET
ECB President Christine Lagarde gives speech at Fondation Maurice Allais in Paris
Text is expected.

12:00 ET
Fed’s Cook gives commencement address to the Girts Global Academy in Washington DC.
Text is expected, but no Q&A
Keep in mind, during the Fed blackout period, Fed officials are not permitted to speak on the subject of monetary policy or the economic outlook.

Good luck!