Morning Juice – European Session Prep

Good Morning Traders! This Friday we get American Express earnings, coupled with comments from a number of ECB speakers.

Here is what to expect from today.

Sentiment

Inflation in Tokyo fell below 2% for the first time in more than a year and a half, a sharper-than-expected decline that may raise concerns at the Bank of Japan about the timing of a widely anticipated rate hike in the coming months.

Bank of Japan board members deepened their deliberations over the timing of a withdrawal from the world’s final negative interest rate, according to the minutes of the December policy meeting, which may fuel market expectations of a move in March or April.

In January, UK consumer confidence reached its best level in two years, as falling inflation encouraged families to feel more confident about their financial prospects.

Oil is expected to post its greatest weekly rise since October due to ongoing geopolitical concerns, decreased US oil stocks, and the potential of greater government stimulus in key crude importer China.

The UK has suspended discussions to reach a free-trade agreement with Canada, accusing the other of impeding progress.

Borrowing from a Federal Reserve emergency lending programme reached a new high, just as the central bank boosted the facility’s interest rate to prevent financial institutions from taking advantage of and arbitraging on its favourable terms.

Docket
02:00 ET
German Gfk Consumer Sentiment
Forecast -24.6 | Prior -25.1 | Range -22.5/-26.0

04:00 ET
The ECB publishes its Survey of Forecasters

Speakers

02:30 ET
ECB’s Panetta Speaks

04:30 ET
ECB’s Kazaks & Vujcic Speak

Earnings
07:00 ET
American Express Q4 2023 Earnings
Est. EPS $2.65 | Est Rev. $15.99B

Good Luck today, Traders!