Morning Juice – US Session Prep

Good Morning Traders.
It is Thursday the 14th of November. Here is what to look out for today.

Sentiment
Stocks rose on Thursday, boosted by an optimistic outlook from chip equipment maker ASML Holding and hopes that interest rates will fall further in December.

With Thursday’s data revealing that the Eurozone economy increased 0.9% on an annual basis, as expected, investors are expecting the ECB to cut interest rates next month. In the US, yesterday’s inflation report has fuelled speculation about a possible Fed cut in mid-December.

Investors are attempting to strike a balance between easing inflation and falling interest rates and the prospect that Trump could implement tough tax and tariff vows, reigniting price increases next year. Confirmation of a Republican electoral sweep implies Trump has more policy leeway and restricts potential checks on his power.

Docket
08:30 ET
US PPI for October
YoY – Median Forecast 2.3% | Prior 1.8% | Range 2.4% / 2%
MoM – Median Forecast 0.2% | Prior 0% | Range 0.4% / -0.1%
Core YoY – Median Forecast 3% | Prior 2.8% | Range 3.1% / 2.8%
Core MoM – Median Forecast 0.2% | Prior 0.2% | Range 0.3% / 0.1%

Weekly US Jobless Claims
Initial – Median Forecast 220K | Prior 221K | Range 255K / 210K
Continued – Median Forecast 1.869M | Prior 1.892M | Range 1.905M / 1.85M

11:00 ET
Weekly EIA Crude Oil Inventories
Median Forecast 0.424M | Prior 2.149M | Range 3.5M / -3.27M

Speakers
09:00 ET
Fed’s Barkin discusses the economy with Jodie W. McLean, secretary of the Real Estate Roundtable board of directors and chair of the Richmond Fed board of directors.

10:00 ET
Fed’s Kugler speaks on Central Bank Independence and Economic Outlook” before the Latin American and Caribbean Economic Association (LACEA) and the Latin American Chapter of the Econometric Meetings

13:30 ET
ECB’s Schnabel gives remarks and joins a panel on Reassessing Policy Tools for Current and Future Challenges, at IMF in Washington.

14:00 ET
ECB’s Lagarde speaks at the Choiseul Sovereignty Awards 2024 ceremony.

15:00 ET
Fed’s Powell speaks on economic outlook Regional Chamber, Dallas Fed and World Affairs Council of DFW. Text and Q&A is expected.

16:00 ET
BoE’s Governor Andrew Bailey delivers a speech at the annual financial and professional services dinner at Mansion House.

16:45 ET
Fed’s Williams gives a speech on “Making Missing Markets” at a New York Fed event. Text is expected but no Q&A.

Good luck!