Morning Juice – US Session Prep

Good Morning Traders.
It is Friday the 21st of June. Here is what to look out for today.

Sentiment
Risk-off trades were in favour at the end of a week in which the consequences of French President Macron’s decision to call a snap election continued to be felt in the region’s economy.
The rally in AI stocks showed signs of exhaustion.

The dollar remained near its 2024 high following the PMI data, which highlighted how French political risk is weighing on growth.
Traders now expect a second ECB cut in October, with an 80% chance of a third this year, up from around 65% on Thursday.

Docket
08:30 ET
Canadian Retail Sales MoM
Median Forecast: 0.7% | Prior: -0.2% | Range: 1.4% / -0.3%
Canadian Core Retail Sales MoM
Median Forecast: 0.6% | Prior: –0.6% | Range: 1.5% / -0.7%

Canadian PPI MoM
Median Forecast: 0.4% | Prior: -1.5% | Range: 0.5% / -0.1%

09:45 ET
US S&P Manufacturing PMI Flash
Median Forecast: 51 | Prior: 51.3 | Range: 52 / 50
US S&P Services PMI Flash
Median Forecast: 54 | Prior: 54.8 | Range: 55 / 52
US S&P Composite PMI Flash
Median Forecast: 53.5 | Prior: 54.5 | Range: 54.7 / 51.9

10:00 ET
US Existing Home Sales
Median Forecast: 4.1M | Prior: 4.14M | Range: 4.27M / 3.85M
US Existing Home Sales Change
Median Forecast: -1.1% | Prior: -1.9% | Range: 3% / -7%