Morning Juice – European Session Prep

Good Morning Traders! This Wednesday we get German Unemployment data.

Here is what to expect from today.

Sentiment

Australia’s headline inflation slowed further in the final three months of 2023, supporting the case for the Reserve Bank to leave interest rates steady next week and driving the dollar down.

China’s factory activity declined for the fourth consecutive month in January, adding to concerns of sustained weakening in the world’s second-largest economy.

In its summary of thoughts from last week’s policy gathering, the Bank of Japan indicated that it is getting closer to raising its interest rate for the first time since 2007, while officials did not hint at an agreement on the particular timing of the move.

Japan’s factory output rose in December, providing additional indication that the faltering economy has returned to growth, perhaps removing a hurdle for the Bank of Japan as it considers the timing of a future interest rate hike.

Oil headed for its first monthly rise since September as an intensification of attacks on ships in the Red Sea triggered a diversion of tanker traffic and fanned concerns about a larger conflict in the Middle East.

Docket

02:45 ET
French HICP YoY Prelim
Median Forecast 3.6% | Prior 4.1% | Range 4.0%/3.1%

03:55 ET
German Unemployment Rate
Median Forecast 5.9% | Prior 5.9% | Range 6.0%/5.8%

German Unemployment Change SA
Median Forecast 11k | Prior 5k | Range 20k/0k

Earnings

07:30 ET
Boeing Q4 2023 Earnings
Est. EPS -$0.76| Est. Rev. $21.06B

Good Luck today, Traders!