Morning Juice – Europe Session Prep

Good Morning Traders! This Friday we get UK Retail Sales data.

Here is what to expect from today.

Sentiment

President Raphael Bostic of the Federal Reserve Bank of Atlanta said there is no urgency to decrease interest rates because the US labour market and economy are still robust, and he cautioned that inflation is not yet on track to reach the central bank’s 2% target on a sustained basis.

Japanese Finance Minister Shunichi Suzuki says he’s watching the yen’s moves with a high sense of urgency, saying it’s crucial for currencies to move in a stable manner.

UK Chancellor Jeremy Hunt has deemed a plan to decrease the basic rate of income tax to 18% from 20% unaffordable, according to The Telegraph, citing a source.

For the first time since 2021, the amount of money parked by investors at a large Fed facility fell below $500 billion.

Oil advanced significantly as a risk-on mood in wider markets and hints OPEC+ members are complying with production cuts outweighed the IEA’s bleak demand prognosis.

Docket

02:00 ET
UK Retail Sales YoY
Median Forecast -1.6% | Prior -2.4% | Range -0.5%/-3.1%

UK Retail Sales MoM
Median Forecast 1.5% | Prior -3.2% | Range 2.9%/0.2%

UK Core Retail Sales YoY
Median Forecast 1.7% | Prior -3.3% | Range 3.0%/0.8%

02:45 ET
French HICP YoY Final
Median Forecast 3.4% | Prior 3.4% | Range 3.4%/3.4%

Speakers

03:45 ET
ECB’s Schnabel Speaks

Good Luck today, Traders!