Morning Juice – US Session Prep

Good Morning Traders.
It is Thursday 7th of November, the day of the US interest rate decision.
Here is what to look out for today.

Sentiment
US equity futures maintained their post-Election Day gains, while the dollar fell as traders continued to plot Donald Trump’s return to the White House and what it means for the Federal Reserve’s interest-rate policy.

S&P 500 contracts edged higher after the US benchmark surged the previous session on bets that the newly elected President will boost corporates with pro-growth policies.
The dollar index fell 0.3% after reaching its highest level since 2022. Following Wednesday’s seismic selloff, US Treasury yields remained relatively stable.

Markets are taking a breather this morning after dealing with the far-reaching consequences of a Trump presidency.
His victory has forced investors to accept economic policies that may result in fewer Fed rate cuts, as well as a possible Republican sweep of Congress, which could boost fiscal expansion.

Later today. Fed Chair Powell will face a tough test as a second term for Trump raises inflation concerns. Officials are expected to lower rates by 25 basis points today, following the half-point cut in September.
Traders expect the Fed to cut interest rates by about 100 basis points by September 2025, down from 110 basis points on Tuesday.

Docket
08:30 ET
Weekly Jobless Claims Data
Initial – Median Forecast: 223K | Prior: 216K | Range: 235K / 215K
Continued – Median Forecast: 1.87M | Prior: 1.862M | Range: 1.91M / 1.835M

US Productivity Prelim – Median Forecast: 2.5% | Prior: 2.5% | Range: 3.3% / 1.6%
US Unit Labor Costs Prelim – Median Forecast: 1% | Prior: 0.4% | Range: 2.8% / 0.1%

10:00 ET
US Wholesale Inventories
Median Forecast: -0.1% | Prior: -0.1% | Range: 0.5% / -0.1%

11:30 ET
The US Sells $95 Bln in 4-Week Bill at Auction

14:00 ET
US Interest Rate
Median Forecast: 4.75% | Prior: 5% | Range: 5% / 4.25%
FOMC Rate Statement

15:00 ET
US Consumer Credit
Median Forecast: 12.1B | Prior: 8.929B | Range: 18.6B / 4B

Speakers
08:30 ET
ECB’s Lane speaks on a panel at the Bank of Greece conference in Athens.

09:30 ET
ECB’s Lane & ECB’s Stournaras speak at the Bank of Greece conference in Athens.

10:45 ET
ECB’s Stournaras speaks in Athens.

14:30 ET
FOMC Press Conference with Chair Powell following the US Interest Rate decision.

Good luck!