Morning Juice – European Session Prep

Good Morning Traders! This Monday we get a quiet start to the week in terms of data.

Here is what to expect from today.

Sentiment

President Joe Biden is under increasing pressure to confront Iran directly after the country’s proxies killed three American soldiers in a drone strike in Jordan, creating precisely the larger regional conflict that he has sworn he wants to avoid.

Oil soared after separate strikes by Iran-backed militants that killed US troops in Jordan and destroyed a petroleum tanker in the Red Sea, a significant escalation of tensions in the Middle East.

Job postings in the UK declined by the greatest in more than three years in December, indicating that a hot labour market is cooling. According to the current Job Market Report issued by web site Adzuna, advertised openings fell 6.95% in December, the worst drop since June 2020. Early data predicts January will see a similar sized dip, indicating what could be the start of a challenging year for jobseekers, Adzuna said.

China Evergrande obtained a liquidation order from a Hong Kong court, setting off what is sure to be a difficult process to divide up one of the greatest victims of a years-long and nationwide property debt crisis.

China intends to “merge” three of its top bad debt managers into China Investment, the country’s $1.24 trillion sovereign wealth fund, Xinhua News Agency reported, citing unidentified sources.

Speakers

02:35 ET
ECB’s de Guindos Speaks

06:20 ET
BoE’s Foulger Speaks

Good Luck today, Traders!