Morning Juice – Europe Session Prep

Good Morning Traders! This Thursday we get PMI data across the Euro-Area, Eurozone CPI and the ECB meeting minutes.

Here is the sentiment for the day.

Sentiment

According to minutes from the Federal Reserve’s most recent meeting, most policymakers are still more concerned about the risk of decreasing interest rates too soon than maintaining them high for too long, which might harm the economy. Federal Reserve policymakers are gearing up for a larger conversation about the central bank’s balance sheet, but for now, it’s apparent officials want to make it as small as possible.

Federal Reserve Governor Michelle Bowman said on Wednesday that the current economic environment does not justify the central bank decreasing interest rates.

Nvidia soared in late trade after presenting another eye-popping sales projection, adding new fuel to a stock run that had already made it the world’s most expensive chipmaker.

President Joe Biden has stated that beneficiaries of an extended student loan relief campaign will hear directly from him as he strives to lure young voters ahead of the November election.

Oil rose as signals of a tightening oil market offset concerns about poor demand, holding prices in a tight range.

Docket

03:15 ET
French Mfg PMI Flash
Median Forecast 43.5 | Prior 43.1 | Range  44.1/42.6

03:30 ET
German Service PMI Flash
Median Forecast 48 | Prior 47.7 | Range  49.0/47.2

German Mfg PMI Flash
Median Forecast 46 | Prior 45.5 | Range  48.0/45.0

04:00 ET
Eurozone Mfg PMI Flash
Median Forecast 47 | Prior 46.6 | Range  47.7/46.7

04:30 ET
UK Services PMI Flash
Median Forecast 54.1 | Prior 54.3 | Range 55.5 /52.0

UK Mfg PMI Flash
Median Forecast 47.5 | Prior 47.0 | Range  48.1/46.0

UK Composite PMI Flash
Median Forecast 52.9 | Prior 52.9 | Range  54.1/52.5

05:00 ET
Eurozone CPI YoY Final
Median Forecast 2.8% | Prior 2.8% | Range  2.8%/2.8%

Eurozone CPI MoM Final
Median Forecast: -0.4% | Prior 0.2% | Range -0.4% /-0.4%

07:30 ET
ECB Meeting Minutes

Speakers

01:30 ET
BoE’s Greene Speaks

Good Luck today, Traders!